Question
On July 1, 2017, Phineas Corp issued bonds with a face value of $500,000 and a stated rate of 12%. The bonds pay out interest
On July 1, 2017, Phineas Corp issued bonds with a face value of $500,000 and a stated rate of 12%. The bonds pay out interest annually on June 30 and will mature 5-years after issuance. The market rate on the date of issuance was 10%. Calculate the initial selling price of the bonds and record the July 1st journal entry for the issuance of the bond
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A Guide To Effective Internal Management System Audits Implementing Internal Audits As A Risk Management Tool
Authors: IT Governance Publishing
1st Edition
1849285594, 978-1849285599
