Ex 14-3 & 14-5 - Discount on bond payable 249,420.80...

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Patricia Nelms 8-Jul-09 Intermediate Accounting Ex 14-3 Req. 1 Interest $4,000,000 * 11.46992 = 45,879,680 Principal 80000000 * .31180 = 24,944,000 Price of bond = $70,823,680 Req. 2 Cash 70,823,680 Discount on bond payable 9,176,320 bond payable 80,000,000 Req. 3 70,823,680 *6% = 4,249,420.80 Interest Expense 4,249,420.80
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Unformatted text preview: Discount on bond payable 249,420.80 Cash 4,000,000 Req. 4 71,073,100.80 * 6% = 4,264,386.05 Interest Expense 4,264,386.05 Discount on bond payable 264,386.05 Cash 4,000,000 Ex 14-5 Req. 1 Liability = $283,294,720 Req. 2 Interest Expense = $16,997,683.20 Req. 3 Cash = $283,294,720...
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