Question
On January 1, 2011, HEBRON Co. issued ten-year bonds with a face value of $1000,000 and a stated interest rate of 6%, payable annually December
On January 1, 2011, HEBRON Co. issued ten-year bonds with a face value of $1000,000 and a stated interest rate of 6%, payable annually December 31. The bonds were sold to yield 9%.( 6 marks) a) Calculate the issue price of the bonds. b) Prepare the amortization table for 2011 and 2012. c) Prepare the journal entry required On January 1, 2011 and December 31, 2011.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher, Philip Olds, Frances McNair, Bor
4th edition
77862376, 978-0077862374
