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Sedona systems issues bonds dated january 1 2011 that pay

Question: Sedona Systems issues bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds have a $45,000 par value and an annual contract rate of 12%, and they mature in five years. Required For each of the following three separate situations,

(a) determine the bonds' issue price on January 1, 2011, and

(b) prepare the journal entry to record their issuance.

1. The market rate at the date of issuance is 10%.

2. The market rate at the date of issuance is 12%.

3. The market rate at the date of issuance is 14%.

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Accounting Basics: Sedona systems issues bonds dated january 1 2011 that pay

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Accounting Basics: Sedona systems issues bonds dated january 1 2011 that pay

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