Question: 202380-Fall 2023-ACCT-3324 X M Question 3 - Chapter 14 - Integ x C F26 McGraw Hill Excel Question - Saved File Home Insert Draw

202380-Fall 2023-ACCT-3324 X M Question 3 - Chapter 14 - Integ x

202380-Fall 2023-ACCT-3324 X M Question 3 - Chapter 14 - Integ x C F26 McGraw Hill Excel Question - Saved File Home Insert Draw Formulas Data Review View Help 5v A v ezto.mheducation.com/ext/common/excelonline/excel-tool.html?Q_13252728588981596_IE1402 Calibri (Body) X fx =E19-E24 B Workbook Statistics 11 11 v Bonds dated Principal Stated rate Market (effective) rate Term (years) Interest payments per year Interest expense Cash Graded Worksheet + BFF Cash Discount on bonds payable Bonds payable Integrated Excel Tool C 1 2 3 4 5 6 7 8 9 10 11 12 13 14 1. Determine the price of the bonds at January 1, 2023 using Excel's PV function. 15 16 2. Record the bond issuance by the Sanders Company on January 1, 2023. 17 Date General Journal 18 January 1, 2023 19 20 21 22 3. Record the first interest payment on June 30, 2023 (at the effective rate). 23 Date General Journal 24 June 30, 2023 25 Search for tools, help, and more (Option + Q) Av D Ev ab v E E The Sanders Company issued 9.5% bonds, dated January 1, with a face amount of $8,000,000 on January 1, 2023. The bonds mature on December 31, 2032 (10 years). For bonds of similar risk and maturity, the market yield is 11.0%. Interest is paid semiannually on June 30 and December 31. Sanders uses the effective interest method. X C Solved The Sanders Company X Debit 7,282,977 717,023 January 1, 2023 $8,000,000 9.5% 11.0% Debit Number 440,000 F 10 2 $7,282,977 Credit 8,000,000 Credit $ 0.00 .0 440,000 G M Homework Help - Q&A from Or x + N M McGraw Hill Check My Work Editing Check Answers Scratchpad: Use as a non-graded workspace J Give Feedback to Microsoft All Bookmarks Save and Return to Assignment {0} Comments Legend Graded cell: Leave blank if no answer is needed. X 100% +

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