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Jan 1(#1) Issued a $2,000,000 Bond at face rate of 5% when market rate = 6%. Bond is a 5-year term paid semi-annually on 6/30

Jan 1(#1) Issued a $2,000,000 Bond at face rate of 5% when market rate = 6%. Bond is a 5-year term paid semi-annually on 6/30 and 12/31. Need to calculate the Bond Value to perform this entry. (Hint: the opening trial balance includes a Discount on Bonds Payable account.)

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