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Question: Bond On January 1, 2020, Dashboard Technologies Ltd. issued bonds with a face value of $70 million that mature in 15 years. The bonds
Question: Bond On January 1, 2020, Dashboard Technologies Ltd. issued bonds with a face value of $70 million that mature in 15 years. The bonds carry a 5.0% interest rate and are sold at 106.00 to yield 4.45%. The bonds pay interest semi-annually. The companys fiscal year end is December 31. Required a. Calculate the cash proceeds from the issuance of the bonds b. Prepare a bond amortization table for the first two years. c. Prepare the journal entries to record the issuance of the bond, and the first two interest payments. Ignore year-end accruals of interest. d. Prepare the relevant parts of a condensed balance sheet, income statement, and cash flow statement for the year-ending 2021.
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