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1. Downing Company issues $2,000,000, 8%, 10-year bonds on January 1, 2020. The bonds pay interest annually on December
Posted: Fri Jul 01, 2022 8:41 am
by answerhappygod
- 1 Downing Company Issues 2 000 000 8 10 Year Bonds On January 1 2020 The Bonds Pay Interest Annually On December 1 (25.03 KiB) Viewed 89 times
1. Downing
Company issues $2,000,000, 8%, 10-year bonds on January 1, 2020. The bonds pay interest annually on December 31. The bonds are issued to yield 12%. (9 pts) a) Calculate the issue price of the bonds in dollars b) Calculate the issue price of the bonds as a percent c) Make the journal entry to record the sale of the bond