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Problem 4 (25) Randy Company found out in carly 2015 that one of its major competitors has putitul for salt. Bager to raise cath to
Problem 4 (25) Randy Company found out in carly 2015 that one of its major competitors has putitul for salt. Bager to raise cath to buy out the competitor, Randy Company issued 5900,000, 5% bonds on May 1, 2015, to yield 4% per year. The bonds would be outstanding for years from the Issuance date and pay interest semi-annually on November 1 and May 1. 1. How much was raised by Randy from the bond issue? (tie present value factors from the attached tables for calculations) 2. Prepare a mortation table wing the effective interest method of amortization. Complete the first five payments only 3. Prepare journal entries for 2015 and 2016 for the bonds payable, using the effective interest method. Randy has a December 31 fiscal year-end 4 An that she had a back on the other on November 1, 2017 103 in other day Record the motry for the band buy
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