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Please help solve both problems! Brief Exercise 14-1 Carla Corporation issues $630,000 of 9% bonds, due in 9 years, with interest payable semiannually. At the
Please help solve both problems!
Brief Exercise 14-1 Carla Corporation issues $630,000 of 9% bonds, due in 9 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10% Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) sue price of the bonds Click if you would like to Show Work for this question: Open Show Work The Oriole Company issued $340,000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1 . The bonds were issued at 102 Prepare the jounal entries for (a) January 1, (b) uly 1, and (Dcember 31. Assume The Oriole Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548.) No. Date Account Titles and Explanation Debit Credit (a) January 1, 2017 Cash 350200 Premium on Bonds Payable 10200 Bonds Payable 340000 (b) July 1, 2017 Interest Expense 15980 Premium on Bonds Payable 1020 Cash 17000 (c) December 31, 2017 Interest Expense 15980 Premium on Bonds Payable 1020 Interest Payable 17000Step by Step Solution
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