Bonds issued at $5,000,000, 12%, 10 year bonds on July 2020. Interest is paid semi-annually at July

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Bonds issued at $5,000,000, 12%, 10 year bonds on July 2020. Interest is paid semi-annually at July 1st and January 1st. The bonds were sold at effective yield of 12.5%. The effective interest method of amortization is used.

What journal entry would you record to call bonds at 7/2/2023 at 102?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: May 15, 2023 04:02 AM

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Bonds issued at $5,000,000, 12%, 10 year bonds on July 2020. Interest is paid semi-annually at July

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To record the journal entry to call bonds at 722023 at 102 you would need to consider the carrying v... View the full answer

Intermediate Accounting

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