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PLEASE answer all. 3 4 5 Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $52,000 for $48,348 on January 1, 2021. The
PLEASE answer all.
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Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $52,000 for $48,348 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Record the bond issue. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general journal Ultimate Butter Popcorn issues 6%, 10-year bonds with a face amount of $56,000. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually. At what price will the bonds issue? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round Market interest rate" to 1 decimal place.) Amount $ 56,000 Bond Characteristics Face amount Interest payment Market interest rate Periods to maturity Issue price On January 1, 2021, Lyle's Limeade issues 4%, 10-year bonds with a face amount of $71,000 for $65,466, priced to yield 5%. Interest is paid semiannually. What amount of interest expense will be recorded in the December 31, 2021, annual income statement? (Do not round your intermediate calculations. Round your final answer to nearest whole dollar amount.) Interest expenseStep by Step Solution
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