Question: Problem 11-11 a-c, e (Part Level Submission) Ficus Tree Farm issued 5 $1,000 bonds with a stated annual interest rate of 12 percent on January

 Problem 11-11 a-c, e (Part Level Submission) Ficus Tree Farm issued5 $1,000 bonds with a stated annual interest rate of 12 percent

Problem 11-11 a-c, e (Part Level Submission) Ficus Tree Farm issued 5 $1,000 bonds with a stated annual interest rate of 12 percent on January 1, 2018. The bonds mature on January 1, 2023. Interest is paid semiannually on June 30 and December 31. The bonds were sold at a price that resulted in an effective interest rate of 14 percent. The bonds can be called for 103.5 beginning June 30, 2020. (e) Your answer is partially correct. Try again. Prepare the entries necessary on June 30, 2020, if Ficus chooses to exercise the call provision. (Round answers to 2 decimal places e.g. 589.71. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Account Titles and Explanation x x Discount on Bonds Payable 205.00 (Redeemed bonds on June 30, 2020.)

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