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28 Sep 2019
On January 1, Manderlee Inc. issued $180,000 of 9%5-year bonds when the market interest rate
was 10%. The bonds pay interest semiannually on June 30th andDecember 31. Proceeds
received were $173,050.
These bonds were issued at a DISCOUNT/PREMIUM (circle one) becausethe Contract Rate is
EQUAL TO/ GREATER THAN/ LESS THAN (circle one) the MarketRate
Record the following transactions:
Bond issue on January 1
Paid semiannual interest on June 30
Amortized the bond premium or discount
On January 1, Manderlee Inc. issued $180,000 of 9%5-year bonds when the market interest rate
was 10%. The bonds pay interest semiannually on June 30th andDecember 31. Proceeds
received were $173,050.
These bonds were issued at a DISCOUNT/PREMIUM (circle one) becausethe Contract Rate is
EQUAL TO/ GREATER THAN/ LESS THAN (circle one) the MarketRate
Record the following transactions:
Bond issue on January 1
Paid semiannual interest on June 30
Amortized the bond premium or discount
Trinidad TremblayLv2
28 Sep 2019