Question
To who may concern: i am submitting this question for the third time and seem that always missing a procedure answered. In both occasion forgot
To who may concern: i am submitting this question for the third time and seem that always missing a procedure answered. In both occasion forgot to explained the PV tables and the journal entries and my last question made a computed the market rate as 8% when the exercise stated 6% and the same errors as the previous answered too. Please this will be my third try. I really need your help, thanks.
3 year Bonds are issued at face value of $100,000 on January 1,2016, a stated
interest rate of 8%, and market rate of 6%.
a. Calculate the issue price of the Bonds.
b. Prepare the schedule of amortization using the effective interest method.
c. Prepare journal entries of 1/1/2016 and 12/31/2016.
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