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Please show excel formulas needed and PV formulas! Thank you for the help! Riverbed Co. is building a new hockey arena at a cost of
Please show excel formulas needed and PV formulas! Thank you for the help!
Riverbed Co. is building a new hockey arena at a cost of $2,680,000. It received a downpayment of $500,000 from local businesses to support the project, and now needs to borrow $2,180,000 to complete the project. It therefore decides to issue $2,180,000 of 10%, 10-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 9%. (a) Your answer is partially correct. Try again. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (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. If no entry is required, select "No Entry" for the account titles and enter o for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit X January 1, 2019 TCash 2204708 Bonds Payable 2180000 Premium on Bonds Pay; 24708Step by Step Solution
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