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Determine the issue price for the bonds

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Reference no: EM132463771

Baxter company decides to issue the filling bond:

A 100,000 20 year bond bearing 6% interest. Interest payments are to be made semi annually. The current market rate for a similar bond is 8%.

Question 1: Determine the issue price for the bonds.

Question 2: Prepare the journal entry to record the issue of the bond.

Question 3: Prepare the journal entry to record the first semi Annual interest payment, assuming straight line amortization.

Reference no: EM132463771

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