Business, 15.10.2020 08:01 hunterthompson5578
National orthopedics company issued 8% bonds dated january 1 with a face amount of 750000 on january 1 2021 the bonds mature on devember 21 2024 for bonds of similar risk and maturity the market rield was 10% interest is paid semiannually on june 30 and december 31 deteremine the price of the bonds at january 1 2021.
Required:
a. Prepare the journal entry to record their issuance by nation on january 1 2021.
b. Prepare an amortization schedule that determines interest a the effective rate each period.
c. Determine the price of the bonds at January 1, 2021.
d. Prepare the appropriate journal entries at maturity on December 31, 2021.
Answers: 1
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National orthopedics company issued 8% bonds dated january 1 with a face amount of 750000 on january...
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