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p can you please answer the question within 20 very quickly? please make sure don't screenshot the answers On January 1, 2020, Ellison Co. issued
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can you please answer the question within 20 very quickly? please make sure don't screenshot the answers
On January 1, 2020, Ellison Co. issued eight-year bonds with a face value of $5,000,000 and a stated interest rate of 8%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are: Present value of 1 for 8 periods at 6%. .627 Present value of 1 for 8 periods at 8%. .540 Present value of 1 for 16 periods at 3% .623 Present value of 1 for 16 periods at 4%... .534 Present value of annuity for 8 periods at 6%.. 6.210 Present value of annuity for 8 periods at 8%. 5.747 Present value of annuity for 16 periods at 3%. 12.561 Present value of annuity for 16 periods at 4%. 11.652 Calculate the price of the bond in dollars Make the journal entry to record the sale of the bond Calculate the price of the bond as a percentageStep by Step Solution
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