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Nordic Company issued bonds with the following provisions: Maurrity yalue: $E,t},l}_ Interest TB percent per annum payahle semi-annually each June

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2018-04-01 (1).png

2018-04-01 (1).png

Nordic Company issued bonds with the following provisions: Maurrity yalue: $Efl,flflt},fll}fl_ Interest TB percent per annum payahle semi-annually each June 3t} and December 31. Terms: Bonds dated January 1, 2111?, due five years from that date. The company's fiscal year ends on December 31. The hands were sold on January 1, 201?, at a yield of 8
percent Required:
1. Compute the issue {sale} price of the bonds. {Round time value factor to II decimal places. Round
the final answer to the nearest whole dollar.] _:| 2. Prepare the journal entry to record the issuance of the hands. [If no entry is required for a
transactionleyent, select "Ho journal entry required" in the first account field. Round the final
answers to the nearest whole dollar.]

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Part 1 Particulars  Amount Present value of face amount ( 60 , 000 , 000 * 0 . 6806 ) $40 , 836 , 000 Present value of... View the full answer

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