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Calculate the price of the bond four percent

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Problem 1: Cullumber issued $380,000 of 5%, 5-year bonds on January 1, 2021. Interest is payable semi-annually. Calculate the price of the bond: (a) 4%, (b) 5%, and (c) 6%.

Problem 2: Prepare the journal entry to record the issuance of the bond assuming the market rate of interest is: (a) 4%, (b) 5%, and (c) 6%

Reference no: EM132755741

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