Question: can any one answer the below question with all the parts please? Cumbe wa Serikali Questions View Policies Current Attempt in Progress Paris Products Ltd.


Cumbe wa Serikali Questions View Policies Current Attempt in Progress Paris Products Ltd. issued $3 million of 5%, 5-year bonds on January 1, 2021. The bonds were dated January 1 and pay interest annually. There is no collateral secured against the bonds and Paris Products may buy back the bonds at any time. The market interest rate was 6% for these bonds. Paris has a calendar year end. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Calculate the price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to decimal places, eg. 1.575.) Price of the bonds $ Record the bond issue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter for the amounts.) Date Account Titles and Explanation Jan 1, 2021 Debit Credit (To record issuance of bonds.) e Textbook and Media V Prepare an effective interest amortization table for these bonds. (Round answers to decimal places, eg. 5,275.) PARIS PRODUCTS LTD. Bond Discount Amortization Table Effective-Interest Method-Annual Interest Payments 5% Bonds Issued at market rate of 6% Interest Payment Interest Expense Discount Amortization Date Bond Amortized Cost Jan. 1, 2021 $ $ Jan 1, 2022 Jan. 1, 2023 Jan. 1, 2024 Jan. 1, 2025 Jan. 1. 2026 e Textbook and Media List of Accounts Recordam
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