Business, 30.11.2021 19:30 jaideeplalli302
(a) On March 1, 2021, Pharoah Co. issued at 103 plus accrued interest $4,170,000, 8% bonds. The bonds are dated January 1, 2021, and pay interest semiannually on July 1 and January 1. In addition, Pharoah Co. incurred $25,000 of bond issuance costs. Compute the net amount of cash received by Pharoah Co. as a result of the issuance of these bonds. (Round present value factor calculations to 5 decimal places, e. g. 1.25124 and final answer to 0 decimal places, e. g. 5,275.) Net amount of cash received $ (b) On January 1, 2020, Novak Co. issued 8% bonds with a face value of $683,000 for $599,063 to yield 10%. The bonds are dated January 1, 2020, and pay interest annually. What amount is reported for interest expense in 2020 related to these bonds, assuming that Novak used the effective-interest method for amortizing bond premium and discount
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(a) On March 1, 2021, Pharoah Co. issued at 103 plus accrued interest $4,170,000, 8% bonds. The bond...
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