Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $68,000 for $68,000 on January 1, 2021. The market interest r

Question

3 years ago

10

Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $68,000 for $68,000 on January 1, 2021. The market interest r

ate for bonds of similar risk and maturity is 5%. Interest is paid annually on December 31.
Required:
Record the bond issue and first interest payment on June 30, 2021.

Business

1 answer:

bija089 [108] · Answer 1 · 2022-07-31T16:55:06+03:00

bija089 [108]3 years ago

6 0

Answer:

Here the answer is given as follows,