Denzel Corporation is planning to issue bonds with a face value of $630,000 and a...
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Accounting
Denzel Corporation is planning to issue bonds with a face value of $ and a coupon rate of percent. The bonds mature in years and pay interest semiannually every June and December All of the bonds were sold on January of this year. Denzel uses the effectiveinterest amortization method and also uses a discount account. Assume an annual market rate of interest of percent. FV of $ PV of $ FVA of $ and PVA of $
Note: Use appropriate factors from the tables provided.
Required:
and Prepare the journal entries to record the issuance of the bonds and interest payment on June of this year.
What bonds payable amount will Denzel report on its June balance sheet?Journal entry worksheet
Record the issuance of bonds.
Note: Enter debits before credits.
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