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need the answer of this question urgently On November 1, 2020, Yardley Distributors Inc. issued a $740,000, 5%, two-year bond. Interest is to be paid
need the answer of this question urgently
On November 1, 2020, Yardley Distributors Inc. issued a $740,000, 5%, two-year bond. Interest is to be paid semiannually each May 1 and November 1. (Use TABLE 14A1 and TABLE 14A.2.). Note: Use table values for PV calculations. (Use appropriate factor(s) from the tables provided.) Required: a. Calculate the issue price of the bond assuming a market interest rate of 6% on the date of the bond issue. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar. Enter all the amounts as positive values.) Issue price of the bond b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Period Ending Cash Interest Paid Period Interest Expense Discount Amortization Carrying Value Unamortized Discount Nov 1.20 May 1/21 Nov 1/21 May 1/22 Nov 1/22 Totals 0 0 0 0 0 $ $ SStep by Step Solution
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