Question marks
On July Forest Corp. issued $ of payable each June and December year December at an effective rate of Because the company had available cash, half of the bonds were purchased in the market and retired on January at Show your calculations calculator inputs
Required:
a Calculate the issue price of the bonds by Forest Corp. on July
b Calculate the book carrying value of the bonds on December
tablePeriodtableInterestExpensetableInterestPaidAmortization,tableEndingBalance
c Besides having some available cash, explain one reason why Forest might want to retire their bonds.
d Give the entry by Forest Corp. to record the retirement of the bonds on January
General Journal
