Question
Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $66,000 for $61,364 on January 1, 2015. The market interest rate for bonds of
Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $66,000 for $61,364 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid annually on December 31.
Record the bond issue and first interest payment on December 31, 2015.
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Internal Auditing In Savings And Credit Cooperative Societies
Authors: Daniel Njuguna
1st Edition
B0C8SCJKRT, 979-8223128649
