Question: Avman Chapter 11- Liabilities: Bonds Payable Prepare the journal entry to issue $100,000 bonds that sold for $94,000. (a) Prepare the journal entry to issue

Avman Chapter 11- Liabilities: Bonds Payable Prepare the journal entry to issue $100,000 bonds that sold for $94,000. (a) Prepare the journal entry to issue $100,000 bonds that sold for $104,000 161. (b) ANSWER (a) 162. Using the following table, what is the present value of $40,000 to be received in 5 years, if the market rate is 7% compounded annually? 10% Periods 1 7% 5% 6% 0.90909 0.95238 0.94340 0.93458 0.89000 0.82645 0.75132 0.68301 0.90703 0.86384 0.87344 0.83962 0.81630 0.76290 0.71299 0.66634 0.62275 0.82270 0.79209 0.74726 0.70496 0.66506 0.78353 0.62092 0.56447 0.51316 6 0.74622 7 0.71068 0.67684 8 0.62741 0.59190 0.55840 0.58201 0.46651 0.64461 0.54393 0.50835 0.42410 10 0.61391 0.38554 olelr

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