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Just question C Calculate the amount of cash Sandhill will receive if the bonds are sold under each of the following bond alternatives: i. 7%
Just question C
Calculate the amount of cash Sandhill will receive if the bonds are sold under each of the following bond alternatives: i. 7% (issued at par) ii. a price of 95.542 to yield 7.5% iii. a premium in the amount of $8,740,000 and first interest payment of $6,264,050 Prepare the journal entries to record the first interest expense for alternatives (i), (ii), and (iii) above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Step by Step Solution
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