On September 1, 2017, Messner Corp. issued a $250,000, 12%, four-year bond. Interest is payable semi-annually beginning

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On September 1, 2017, Messner Corp. issued a $250,000, 12%, four-year bond. Interest is payable semi-annually beginning March 1, 2018.

Required:

a. Calculate the bond issue price assuming a market interest rate of 10% on the date of issue.

b. Using the effective interest method, prepare an amortization schedule.

Related Book For answer-question

Financial Accounting

ISBN: 978-1118978085

IFRS 3rd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

See More Books

Posted Date: Feb 28, 2021 11:12 AM

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On September 1, 2017, Messner Corp. issued a $250,000, 12%, four-year bond. Interest is payable semi-annually beginning

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Financial Accounting

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