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Riverbed Ltd. sold $6,700,000 of 10% bonds, which were dated March 1, 2020. on June 1, 2020. The bonds paid interest on September 1 and

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Riverbed Ltd. sold $6,700,000 of 10% bonds, which were dated March 1, 2020. on June 1, 2020. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2030, and the bonds were issued to yield 12% Riverbed's fiscal year-end was February 28, and the company followed IFRS. On June 1, 2021. Riverbed bought back $2.700,000 worth of bonds for $2,600,000 plus accrued interest Using 1. a financial calculator, or 2. Excel function PV. calculate the issue price of the bonds and prepare the entry for the Issuance of the bonds. (Hint: Use the account Interest Expense in your entry) (Round answer to decimal places, 23. 5.275. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit I Prepare the journal entry for the scheduled interest payment on September 1, 2020. (Round answer to decimal places, es. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manual) Date Account Titles and Explanation Debit Credit Sept 1, 2020 Prepare any year-end entry required at February 28, 2021. (Round answer to decimal places, c.8.5,275. Credit account tities are automatically indented when the amount is entered. Do not indent manually) Credit Debit Date Account Titles and Explanation Feb. 28 2021 Prepare the entry required for the redemption of face value $2,700,000 of the bonds on June 1, 2021. (Round answer too decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation June 1, 2021

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