E9-23 (Static) Computing the Issue Price of a Bond with Analysis of Net Earnings and Cash Flow Effects LO9-3, 9-8 Imal Company issued a $1 million bond that matures in five years. The bond has a 9 percent coupon rate. When the bond was issued. the market interest rate was 8 percent. The bond pays interest twice per year, on June 30 and December 31. Use Table 8C1. Table Required: 1. Record the issuance of the bond on June 30. (Round time value factor to 4 decimal places. Enter your answer in dollars not in millions. Round intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the issuance of bond on June 30th. Note: Enter debits before credits. Date Jun 30 Record entry General Journal Clear entry O Discount Premium Debit 2. Was the bond issued at a discount or at a premium? Credit View general journal >

E9-23 (Static) Computing the Issue Price of a Bond with Analysis of Net Earnings and Cash Flow Effects LO9-3, 9-8 Imal Company issued a $1 million bond that matures in five years. The bond has a 9 percent coupon rate. When the bond was issued. the market interest rate was 8 percent. The bond pays interest twice per year, on June 30 and December 31. Use Table 8C1. Table Required: 1. Record the issuance of the bond on June 30. (Round time value factor to 4 decimal places. Enter your answer in dollars not in millions. Round intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the issuance of bond on June 30th. Note: Enter debits before credits. Date Jun 30 Record entry General Journal Clear entry O Discount Premium Debit 2. Was the bond issued at a discount or at a premium? Credit View general journal >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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