1. Cochran's Furniture Outlet is issuing 25-year, 9 percent callable bonds. These bonds are callable in 4 years with a call premium of $45. The bonds are being issued at par and pay interest semi-annually. What is the yield to call?
2. The Big Box Store has annual credit sales of $3,268,200 and cost of goods sold of $2,428,600. The average accounts receivable balance is $39,400. How many days on average does it take the firm to collect its accounts receivable?
3. On April 15, Compton Co. paid $2,350 to upgrade a delivery truck and $30 for an oil change. Journalize the entries for the upgrade to delivery truck and oil change expenditures.