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please anwser all the questions thanks ! Superior Drive-Ins Ltd. borrowed money by issuing $3,500,000 of 4% bonds payable at 94.5 on July 1,2021 .
please anwser all the questions thanks !
Superior Drive-Ins Ltd. borrowed money by issuing $3,500,000 of 4% bonds payable at 94.5 on July 1,2021 . The bonds are 10 -year bonds and pay interest each January 1 and July 1. Read the requirements. 1. How much cash did Superior receve when it issued the bonds payable? Journalize this transaction. When the bonds payable were issued, Superior recerved Requirements 1. How much cash did Supenor receive when it issued the bonds payable? Journalize this transaction. 2. How much must Superior pay back at maturity? When is the maturity date? 3. How much cash interest will Superior pay each six months? 4. How much interest expense will Superior report each six months? Use the straight-line amortization method Joumalize the entries for the accrual of interest and amortization of discount on December 31, 2021, and the payment of interest on January 1,2022 Step by Step Solution
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