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MondoBondage case solution

MondoBondage case solution - Features of the Bonds...

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MONDO-BONDAGE Features of the Bonds: Issue date: January 1, 1995 Maturity: December 31, 1999 (5 year bonds – 10 payments) Face value: $1,000,000 Coupon rate: 10% (payable semi annually Coupon rate: 10%, (payable semi-annually on June 30 and December 31) ISSUANCE AT PAR Case 1: Issued to yield a 10% return Cash 1 000 000 a. Entry to record issuance of Bond 1,000,000 Bonds Payable 1,000,000 ISSUING BONDS PAYABLE AT PAR After posting the bond Bonds Payable After posting, the bond account has the following balance: 1 000 000 1,000,000
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