Yellow Sheet Importers recently financed a multi - state expansion by issuing $ 5 0 , 0
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Question:
Yellow Sheet Importers recently financed a multistate expansion by issuing $ in year bonds with a stated interest rate of The bonds were issued to yield The bonds pay interest twice per year. Yellow Sheet included a call feature that allows the company to repurchase all of the bonds after they have been outstanding for at least years. In the event of a call, Yellow Sheet will pay bondholders the current market price plus $ per $ bond there are of them
Required:
a Prepare the bond amortization schedule for the full year period.
b Prepare the journal entry to record the issuance of these bonds.
c Prepare the journal entry to record the fourth interest payment.
d Assume that Yellow Sheet calls of the bonds at the end of year interest payment The market price at that time is $ Prepare the journal entry to record the call.
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