Question
Sandford Co. sells bonds on March 1, 2017. The bonds pay interest on September 1 and March 1. The due date of the bonds is
| Sandford Co. sells bonds on March 1, 2017. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2020. Pertinent information follows: |
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| Par value of the bonds | $ 500,000 | ||||||||
| Stated interest rate | 10% | ||||||||
| Bond yield rate | 12% | ||||||||
- Calculate the bond price and bond discount using EXCEL function.
- Prepare amortization schedule
- Prepare journal entries for year 2017 and 2018.
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
22nd Edition
126059808X, 978-1260598087
