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professor190 [17]
3 years ago
12

Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to the que

stions displayed below.] Claire Corporation is planning to issue bonds with a face value of $120,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)1: 1. Provide the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.)2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.)3. What bonds payable amount will Claire report on this year’s December 31 balance sheet? (Round your final answers to nearest whole dollar amount.)
Business
1 answer:
Nitella [24]3 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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qwelly [4]

Answer:

451

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430+21

1234567890101112131415

8 0
3 years ago
Can I Plss get some help on this
AlladinOne [14]

The law of supply illustrates all the quantities of goods that producers are willing and able to sell at every possible price.

<h3>What is the law of supply?</h3>

The law of supply states that when prices increase, the quantity supplied increases and when price falls, the quantity supplied falls. This shows that price and quantity supplied are positively related. This explains why the supply curve is positively sloped.

To learn more about the law of supply, please check: brainly.com/question/26374465

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7 0
2 years ago
Kate begins to perform, intending that the completion of her performance act as an acceptance of Lyle's offer. Under the modern-
elena55 [62]

Answer: Revoking once the performance begin is not possible.

Explanation:

Under the modern-day view, an offer that can only be accepted by completion of a specific act cannot be revoked once performance has begun.

3 0
3 years ago
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The difference between a merger and an acquisition is that:______________.
malfutka [58]

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Which chart is best used to show the results of a class survey with 4 field trip options?
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