Question
On January 1, 2017, MOOSE inc issues a 5 year 8,000,000 par value 8% coupon rate, compounded semi annually. The market initially prices these bonds
On January 1, 2017, MOOSE inc issues a 5 year 8,000,000 par value 8% coupon rate, compounded semi annually. The market initially prices these bonds at 6% effective rate.
Record journal entry on these interest expense on June 30, 2017 and December 31, 2017.
Record journal entry on Dec 31,2021 (both interest and redemption).
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Accounting What The Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
8th Edition
0073379417, 978-0073379418
