Question: Help solve this accounting problem please.Thanks! Randolph Company issued $750,000 of 10%, 5 year bonds on November 30, 2020, for $810,829. This price provided a
Help solve this accounting problem please.Thanks!
Randolph Company issued $750,000 of 10%, 5 year bonds on November 30, 2020, for $810,829. This price provided a yield of 8% on the bonds. Interest is payable semiannually on May 31 and November 30. REQUIRED:Prepare the appropriate journal entries for each of the following dates. In your response, clearly identify the date for each entry. Type any calculations you make or upload your work as specified in the test instructions. Randolph Company uses the effective-interest method. November 30, 2020 December 31, 2020 May 31, 2021 November 30, 2021
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