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please answer section 5 On January 1, 2014, XYZ Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of
please answer section 5 On January 1, 2014, XYZ Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of 11 %, payable semiannually on July1st and January 1st each year. The Bonds are issued to yield 9% Answer the following: I 1. What would be the proceeds from issuance? 2. Interest Expense for the year 2021 3. Carrying amount of the Bonds at December31, 2020, - 4- Prepare the required Journal Entry if XYZ Decide to call the bonds at December 31, 2015, with a recall Price of 101. 5. Indicate with explanation whether calling the bonds with Gain/Loss is a good/bad indication for the issuer
please answer section 5
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