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Question 5 [10 points] Oppong Corporation has available for issue $948,000 bonds due in three years. Interest at the rate of 6% is to be
Question 5 [10 points] Oppong Corporation has available for issue $948,000 bonds due in three years. Interest at the rate of 6% is to be paid annually. Please make sure your an final answer(s) are accurate to the nearest whole number. of Sta a) Calculate the issue price if the market interest rate is 7%. sh Total issue price = $ hes b) Prepare the journal entry for the issuance of the bond on January 1. Enter an appropriate description, and enter the date in the format dd/mmm (ie. 15/Jan) General Journal Page GJI Account/Explanation F Debit Credit Date
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