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please help me with this two questions Present Value of Bonds Payable; Premium Moss Co, issued $350,000 of four-year, 12% bonds, with interest payable semiannually,
please help me with this two questions
Present Value of Bonds Payable; Premium Moss Co, issued $350,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 11% Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar. Feedback Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc. Issues a $1,000,000, 5, 10-year bond that pays semiannual interest of $25,000 ($1,000,000 x 5% x a year), receiving cash of $1,000,000 (a) Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. Cash Bonds Payable . Lobo (b) Journalize the entry to record the first interest payment on June 30. If an amount box does not require an entry, leave it blank. Interest Expense Cash Feedbac (c) Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank Bonds Payable Cash 88 Feedback F Step by Step Solution
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