Solved: Akers company sold bonds on july 1 2017 with a face value, Accounting Basics

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Akers company sold bonds on july 1 2017 with a face value

Question - Akers Company sold bonds on July 1, 2017, with a face value of $100,000. These bonds are due in 10 years. The stated annual interest rate is 6% per year, payable semiannually on June 30 and December 31. These bonds were sold to yield 8%. By July 1, 2018, the market yield on these bonds had risen to 10%.

What was the bonds' market price on July 1, 2018?

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Accounting Basics: Akers company sold bonds on july 1 2017 with a face value

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Accounting Basics: Akers company sold bonds on july 1 2017 with a face value

Reference No:- TGS02365638

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