Bringham Company issues bonds with a par value of $670,000. The bonds mature in 9 years and
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Question:
Bringham Company issues bonds with a par value of $670,000. The bonds mature in 9 years and pay 10% annual interest.in semiannual payments. The annual market rate for the bonds is 12%.
1. Compute the price of the bonds as of their issue date.
2. Prepare the journal entry to record the bonds' issuance.
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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