On January 1, 2019, ABC Company issued $60,000,000 of 20-year, 10.5% bonds when the market...
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Accounting
On January 1, 2019, ABC Company issued $60,000,000 of 20-year, 10.5% bonds when the market rate of interest was 8.5%. Interest is paid semi-annually on June 30 and December 31.
1.compute the price at which the bond was issued
2. using the effective interest method of bond ammortization, prepare an ammortization table for the whole life of the bond.
3. prepare all journal entries for january 1, 2019, june 30, 2019, and december 31, 2038
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