Question: Please help me solve questions 17 & 18. If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with
Please help me solve questions 17 & 18.

If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $500,000 will 17. be A. greater than $500,000 B. greater than or less than $500,000, depending on the maturity date of the bonds C. less than $500,000 D. equal to $500,000 18. The adjusting entry to record the amortization of a discount on bonds payable is A. debit Interest Expense, credit Discount on Bonds Payable B. debit Bonds Payable, credit Interest Expense C. debit Interest Expense, credit Cash D. debit Discount on Bonds Payable, credit Interest Expense
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