Business, 06.05.2021 18:10 supertailsninja453
Park Corporation is planning to issue bonds with a face value of $670,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent.
Required:
Prepare the journal entry to record the issuance of the bonds.
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Park Corporation is planning to issue bonds with a face value of $670,000 and a coupon rate of 7.5 p...
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