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Pharoah Ltd issued $375,000 of 5%,5-year bonds on January 1.2024 - Interest is payable semi-annually. Calculate the price of the bond assuming the market rate
Pharoah Ltd issued $375,000 of 5%,5-year bonds on January 1.2024 - Interest is payable semi-annually. Calculate the price of the bond assuming the market rate of interest is (a) 4%, (b) 5%, and (c) 6% (For colculation purposes use 5 decimal places as disployed in the factor toble provided. Round final answers to odecimal places, es. 5.275) Click here to view the factor table. Present Value of 1 Prepare the journal entry to record the issuance of the bond assuming the market rate of interest is, (a) 4\%, (b) 5%, and (c) 6%. (List oll debit entries before credit entries Credit account tides are dutomatioally inderted when the amount is entered. Do not indent manualiy. if no
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