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MUST SHOW ALL WORK 1. Estonia, Inc. issued $5,000,000 of 5 year bonds, paying 6% interest annually. The bonds sold at 103. a. What is
MUST SHOW ALL WORK
1. Estonia, Inc. issued $5,000,000 of 5 year bonds, paying 6% interest annually. The bonds sold at 103.
a. What is the present value of the bond?
b. Record the journal entry for the issuance of the bond
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c. Record the journal entry for the first interest payment on the bond.
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d. Record the journal entry for the repayment at the end of the term of the bond.
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