Nos. 10-16 pertains to the following: Manabo Company issued ten thousand P1,000 bonds on January 1, 2011. They have a ten-year term and pay interest semiannually January 1 and July 1. This is the partial bond amortization schedule for the bonds. Effective Decrease in Outstanding Balance Payment Cash Interest Balance 8,640,967 8,686,606 300,000 300,000 300,000 345,639 347.464 45,639 47.464 49.363 8,734,070 349,363 8,783.433 300,000 Prepare the journal entry to record the issuance of the bonds? What is the stated annual rate of interest on the bonds? What is the effective annual rate of interest on the bonds? 123+
Nos. 10-16 pertains to the following: Manabo Company issued ten thousand P1,000 bonds on January 1, 2011. They have a ten-year term and pay interest semiannually January 1 and July 1. This is the partial bond amortization schedule for the bonds. Effective Decrease in Outstanding Balance Payment Cash Interest Balance 8,640,967 8,686,606 300,000 300,000 300,000 345,639 347.464 45,639 47.464 49.363 8,734,070 349,363 8,783.433 300,000 Prepare the journal entry to record the issuance of the bonds? What is the stated annual rate of interest on the bonds? What is the effective annual rate of interest on the bonds? 123+
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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