Amount of bond interest expense recorded on first interest, Accounting Basics

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Amount of bond interest expense recorded on first interest

Randell company issues 7%, 10-year bonds with a par value of $150,000 and semiannual interest payments. on the issue date, the annual market rate for these bonds is 8%, which implies a seelling price of 93 1/4. the straight-line method is used to allocate interest expense.

1. what is the issuer's cash proceeds from issuance of these bonds?

2. what total amount of bond interest expense will be recognized over the life of these bonds?

3. what is the amount of bond interest expense recorded on the first interest payment date?

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Accounting Basics: Amount of bond interest expense recorded on first interest

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Accounting Basics: Amount of bond interest expense recorded on first interest

Reference No:- TGS079256

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the amount of bond interest expense

Q : Auditor to plan the audit to detect misstatements

Q : What was the liability relative to the january payroll

Q : Types of consulting services that audit firms have provided

Q : Amount of bond interest expense recorded on first interest

Q : Cash and cash equivalents

Q : What is the normal balance for each account

Q : Earnings from a part-time job problem

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Accounting Basics: Amount of bond interest expense recorded on first interest

Reference No:- TGS079256

Recent Questions Asked Accounting Basics

Q : What is the amount of bond interest expense

Q : Auditor to plan the audit to detect misstatements

Q : What was the liability relative to the january payroll

Q : Types of consulting services that audit firms have provided

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