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Harvey Company issued $210,000 of ten-year bonds to yield 11% when the stated rate of bonds was 9%. Present value intere
Posted: Thu May 19, 2022 2:08 pm
by answerhappygod
- Harvey Company Issued 210 000 Of Ten Year Bonds To Yield 11 When The Stated Rate Of Bonds Was 9 Present Value Intere 1 (368.85 KiB) Viewed 92 times
Harvey
Company issued $210,000 of ten-year bonds to yield 11% when the stated rate of bonds was 9%. Present value interest factors (PVIF) are: 9% 11% PVIF of $1, 10 years 0.42241 0.35218 PVIF of annuity of $1, 10 yrs 6.41766 5.88923 The entry to record the bond issuance would be O DR Cash 88,221 DR Bond Premium 11,779 CR Bonds Payable 100,000 O DR Cash 88,221 DR Bond Discount 11,779 CR Bonds Payable 100,000 O DR Cash 111,779 CR Bond premium 11,779 CR Bonds payable 100,000 DR Cash 111,779 CR Bond discount 11,779 CR Bonds payable 100,000