1. Santos SA issues $300,000 in bonds dated January 1, 2022, due in five years with 9 percent interest payable annually on January 1. At the time of issue, the market rate for such bonds is 9percent.a) Illustrate the bond in line as principal invested and interest rate.b) Check the value of bound is it sold at par value.c) Register accounting transactions on journal entries.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Santos SA issues $300,000 in bonds dated January 1, 2022, due in five years with 9 percent interest payable
annually on January 1. At the time of issue, the market rate for such bonds is 9percent.a) Illustrate the bond in line
as principal invested and interest rate.b) Check the value of bound is it sold at par value.c) Register accounting
transactions on journal entries.
Transcribed Image Text:1. Santos SA issues $300,000 in bonds dated January 1, 2022, due in five years with 9 percent interest payable annually on January 1. At the time of issue, the market rate for such bonds is 9percent.a) Illustrate the bond in line as principal invested and interest rate.b) Check the value of bound is it sold at par value.c) Register accounting transactions on journal entries.
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