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Compute the price of the bond and record sale entry

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Rock Corporation issued $100,000 of 6% bonds on April 1, year 5. The bonds were dated January 1 year5, and mature December 31 year 9, with interest payable each December 31. The bonds were issued at 8% plus accrued interest.

Question a) Compute the price of the bond and record sale entry

Question b) Prepare Rock's journal entries for the first and second interest payment

Question c) Assume rock corporation re-purchased the bond at 119 on September 1 year 7. Record the re-purchase entry

Reference no: EM132474121

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