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Intermediated Accounting II Week 4 Wiley Plus (Exercise 14-2)part level submit QA Hi, Can you help me resolved the attached problem? Thank you Problem 14-2
Intermediated Accounting II Week 4 Wiley Plus (Exercise 14-2)part level submit QA
Hi,
Can you help me resolved the attached problem?
Thank you
Problem 14-2 (Part Level Submission) Coronado Co. is building a new hockey arena at a cost of $2,750,000. It received a downpayment of $470,000 from local businesses to support the project, and now needs to borrow $2,280,000 to complete the project. It therefore decides to issue $2,280,000 of 10%, 10-year bonds. These bonds were issued on January 1, 2016, and pay interest annually on each January 1. The bonds yield 9%. Don't show me this message again for the assignment (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2016. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date January 1, 2016 Account Titles and Explanation Debit CreditStep by Step Solution
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