Red corp issues 1000000 8 five year bonds with interest, Finance Basics

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Red corp issues 1000000 8 five year bonds with interest

Question: Red Corp issues $1,000,000, 8% five year bonds with interest paid semiannually. The current market rate of interest is 10%.

Required: - Compute the price of the bond

- Compute the discount/premium

- Record the issuance of the bonds

- Record the first interest payment including straight line amortization.

- After 2 years, the company redeems the bonds at $1,040,000. Record the transaction. Needing to report this in excel.

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Finance Basics: Red corp issues 1000000 8 five year bonds with interest

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Finance Basics: Red corp issues 1000000 8 five year bonds with interest

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