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second time posting this question please help please Check my w 7 Required information Pano 2 The following information applies to the questions displayed below)
second time posting this question please help please
Check my w 7 Required information Pano 2 The following information applies to the questions displayed below) On January 1, 2019. Drennen Inc issued $3.1 milion face amount of 11-year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2029 Table 6-4, Table 6-5 (Use appropriate factor from the table provided.) 1 Sie Required: a. Calculate the proceeds (ssue price of Drennen Inc.'s bonds on January 1 2019, assuming that the bonds were sold to provide a market rate of return to the investor (Round PV factor to 4 decimal places) Proceeds Check my work 8 Required information Part 2 of 2 {The following information apples to the questions displayed below) On January 1, 2019, Drennen Inc. issued $3.1 million face amount of 11 year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2029 Table 6.4. Table 6.5 (Use appropriate factor from the table provided) 1 Dos b-2. Assume instead that the proceeds were $3,037,000. Record the journal entry to show the payment of semiannual interest and the related discount amortization on June 30, 2019, assuming that the discount of 563.000 is amortized on a straight line basis of no entry is required for a transaction/event, select "No journal entry required in the first account field) Version View oumalty work No Event General Journal Credit + 1 weest expense Discounts payat Cuch 217.000 Step by Step Solution
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