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just question number one please! need help with the journal entry! Shryke Corporation issued 10-year bonds with a par value of $400,000. The stated rate
just question number one please! need help with the journal entry! Shryke Corporation issued 10-year bonds with a par value of $400,000. The stated rate of interest for the bonds was 8% and interest is paid each June and December. At the time of issue, the market rate of interest was 6% The following is a summary of present value table information you may need: Present Value (of 1 payment) Present Value of Annuity PV: 3% for 10 periods 7441 PVA: 3% for 10 periods - 8.5302 PV: 3% for 20 periods -5537 PVA: 3% for 20 periods - 14.877 PV: 4% for 10 periods = .6756 PVA: 4% for 10 periods 8.1109 PV: 4% for 20 periods = .4564 PVA: 4% for 20 periods. 13.590 PV: 6% for 10 periods -5584 PVA: 6% for 10 periods -7.3601 PV: 6% for 20 periods : 3118 PVA: 6% for 20 periods - 11.470 PV: 8% for 10 periods 4632 PVA: 8% for 10 periods 6.7101 Pv; a% for 20 periods - 2145 PVA: 8% for 20 periods = 9,8181 1. Calculate the issue price of the bonds. Provide the journal entry to issues these bonds. (Show your work.) 2. Prepare the appropriate journal entry for the first interest payment. (Show your work.)
just question number one please! need help with the journal entry!
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