Question: i just need answer for part c Exercise 12-11 (Part Level Submission) On July 2, 2018, Imperial Inc. purchased $520,000 of Acme Corp. 5% bonds

 i just need answer for part c Exercise 12-11 (Part LevelSubmission) On July 2, 2018, Imperial Inc. purchased $520,000 of Acme Corp.5% bonds at a price to yield a market interest rate of

i just need answer for part c

Exercise 12-11 (Part Level Submission) On July 2, 2018, Imperial Inc. purchased $520,000 of Acme Corp. 5% bonds at a price to yield a market interest rate of 6%. The bonds pay interest semi-annually on July 1 and January 1, and mature on July 1, 2028. Imperial plans to hold this investment until it matures. At December 31, 2018, which is the year end for both companies, the bonds were trading at 93 (this means 93% of maturity value). Your answer is correct. Calculate the present value (issue price of the bonds on July 2, 2018. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places, e.g. 5,250.) Present value of the Bonds 481221 SHOW LIST OF ACCOUNTS LINK TO TEXT Attempts: 1 of 3 used Your answer is partially correct. Try again. For Imperial, the investor, record. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,250. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) 1. 2. 3. 4. the purchase of the bonds on July 2, 2018, the accrual of interest on December 31, 2018, the receipt of interest on January 1, 2019, and the receipt of interest on July 1, 2019 Debit Credit Date Account Titles and Explanation 2018 July 2 Tong Term Investments TCash Dec. 31 interest Receivable Long-Term Investments T Interest Revenue 2019 TOTTI CHHI Jan. 1 Tcash T Interest Receivable July 1 Touch Long-Term Investments Interest Revenue 14873 entry is required, select "No Entry" for the For Acme, the investee (issuer), record. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to o decimal places. e.o. 5.250. Il account titles and enter o for the amounts.) 1. 2. 3. 4. the issue of the bonds on July 2, 2018, the accrual of interest on December 31, 2018, the payment of interest on January 1, 2019, and the payment of interest on July 1, 2019. Debit Credit Date Account Titles and Explanation 2018 July 2 Dec. 31 2019 Jan. 1 July 1

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