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On January 1 st , 2020, XYZ Corp issued fifteen-year bonds with a face value of $500,000 and a stated interest rate of 12 %,
- On January 1st, 2020, XYZ Corp issued fifteen-year bonds with a face value of $500,000 and a stated interest rate of 12 %, payable semi-annually on June 30 and December 31. The bond was sold to yield 10%.
- Determine the issue price of the bond on January 1, 2020 and make the journal entry to record the sale.
- Prepare the amortization table for 2020 and 2021 (Please upload in the work folder)
- Make the entry to buy back the bond on December 31, 2021 at the different prices below:
- $580,000
- $340,000
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Audit Criteria For Electronic Document Management Processes And Associated IT Solutions
Authors: Alexander D Balzer, Dr Klaus-Peter Elpel, Volker Feist
5th Edition
3932898281, 978-3932898280
