QUESTION 16

* Version AOn Jan 1st 2020, Tinning Co. sold 100,000 tins. Each tin cost Tinning Co. $0.10 to produce. Tinning Co. received a 3 year bond with the face amount of $10,000 with a stated rate of 5% compounded annually. The market rate for similar bonds is 6%. Tinning Co. prepares financial statements once every year.For partial credit considerations, show the calculations you utilized to derive your answer. Provide the transactional journal entries associated with this transaction on Jan 1st 2020.Provide the transactional journal entries dated December 31st 2020 when the first interest payment is received.

On lan 2000, Tiening. Co wold 100.000 time. Each in cost Timing Co. 30. 10 to produce Timing Cond year bond with the face amount of 10.000 with stated role of summually the start forslar bonds is Tining Cours financial statement ce every year ut furtul credit conidio show the calculations you used to drive your newer. Prvide the natural entries associated with this transaction en Jan 1420.20. Provide the coloumaleries dated December 313030 when the first interest payment is recented * QUESTION 16 Version AOn Jan 1st 2020, Tinning Co. sold 100,000 tins. Each tin cost Tinning Co. $0.10 to produce. Tinning Co. received a 3 year bond with the face amount of $10,000 with a stated rate of 5% compounded annually. The market rate for similar bonds is 6%. Tinning Co. prepares financial statements once every year. For partial credit considerations, show the calculations you utilized to derive your answer. Provide the transactional journal entries associated with this transaction on Jan 1st 2020.Provide the transactional journal entries dated December 31st 2020 when the first interest payment is received