Question
Pretzelmania Inc issues 5% 10 year bonds with a face amount of $52,000 for $56,251 on January 1, 2012. The market interest rate for bonds
Pretzelmania Inc issues 5% 10 year bonds with a face amount of $52,000 for $56,251 on January 1, 2012. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually on June 30 and December 31.
Record the bond Issue.
Record the first interest payment on June 30 2012.
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
3rd edition
78025427, 978-0077736460, 007773646X, 978-0078025426
