Exercise 14-3 (Algo) Determine the price of bonds; issuance; effective interest (L014-2] The Bradford Company issued 14%

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Exercise 14 3 Algo Determine The Price Of Bonds Issuance Effective Interest L014 2 The Bradford Company Issued 14 1 (33.75 KiB) Viewed 20 times

Exercise 14-3 (Algo) Determine the price of bonds; issuance; effective interest (L014-2] The Bradford Company issued 14% bonds, dated January 1, with a face amount of 589 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 16%. Interest is paid semiannually on June 30 and December 31. (Fof S1 PV of $1 EVA of.SI, PVA LSI, EVAD of S1 and PVAD OLS1) Required: 1. Determine the price of the bonds at January 1, 2021, 2. to 4. Prepare the journal entries to record their issuance by The Bradford Company on January 1, 2021. Interest on June 30, 2021 and interest on December 31, 2021 (at the effective rate). Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 4 Determine the price of the bonds at January 1, 2021. (Enter your answer whole dollars.) Price of bonds Rag Req 2 to 4 >