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On January 1, 2021, Sunland Ltd. issued bonds with a maturity value of $ 7,200,000 when the market rate of interest was 4 %. The
On January 1, 2021, Sunland Ltd. issued bonds with a maturity value of $7,200,000 when the market rate of interest was 4%. The bonds have a coupon (contractual) interest rate of 5% and mature on January 1, 2031. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. The companys year end is December 31. Calculate the issue price of the bonds. issue price $______ Prepare all of the required journal entries related to the bonds that Sunland Ltd. will record during 2021, including any adjusting journal entries at December 31, 2021. What amounts would be reported as current and non-current in the liabilities section of Sunland Ltd.s December 31, 2021, balance sheet? Record the payment of interest on January 1, 2022.
Calculate the issue price of the bonds.
issue price $______
Prepare all of the required journal entries related to the bonds that Sunland Ltd. will record during 2021, including any adjusting journal entries at December 31, 2021.
What amounts would be reported as current and non-current in the liabilities section of Sunland Ltd.s December 31, 2021, balance sheet?
Record the payment of interest on January 1, 2022.
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