Business, 12.08.2020 06:01 stephen4438

Legacy issues $640,000 of 8.5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $570,443 and their market rate is 12% at the issue date. Required:
Record the issue of bonds with a par value of $640,000 cash on January 1, 2017 at an issue price of $570,443.

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Legacy issues $640,000 of 8.5%, four-year bonds dated January 1, 2017, that pay interest semiannuall...

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