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Paladinen [302]
3 years ago
13

Pharoah Company issued $530,000 of 5-year, 5% bonds at 97 on January 1, 2020. The bonds pay interest annually. Your answer is pa

rtially correct. Try again. Prepare the journal entry to record the issuance of the bonds
Business
1 answer:
Slav-nsk [51]3 years ago
4 0

Answer:

                                                Dr.             Cr.

Cash                                      $514,100

Discount on bond payable  $15,900

Bond Payable                                       $530,000

Explanation:

Cash is received against the Bond issued is debited due to its debit nature and the bond payable account is credited because it is a liability and its nature is credit.

Cash Received = ( 530,000 / 100 ) x 97 = $514,100

Discount  = (530,000/100) x (100 - 97) = $15,900

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Which of the following is an example of the operations concerns of a business plan?
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<u>Answer:</u>

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3 years ago
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7 0
3 years ago
Consider these long-term investment data: • The price of a 10-year $100 par zero-coupon inflation-indexed bond is $84.49. • A re
AleksAgata [21]

Answer:

Annual rate 0.017

Explanation:

Computation of the annual rate on the real bond.

Using this formula

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Annual rate=100 / (1 + r) ^10 = 84.49

Annual rate= (100 / 84.49)^1 /10 − 1

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