Question: please complete all required parts Problem 10-7AA Computing bond price and recording Issuance LO C2 Hartford Research issues bonds dated January 1 that pay interest
Problem 10-7AA Computing bond price and recording Issuance LO C2 Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and December 31 . The bonds have a $22,000 par value and an annual contract rate of 12%, and they mature in 10 years. (Table B1. Table B.2. Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations.) Required: Consider each separate situation. 1. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepate the journal entry to record their issuance. 2. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds' issue price on January 1 . (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 14%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. Compiete this question by entering your answers in the tabs below
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