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Determine the price of the bonds at january

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Question - On January 1, 2018, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated January 1. The bonds mature in 2037 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually.

Determine the price of the bonds at January 1, 2018, and prepare the journal entry to record their issuance by Instaform.

Reference no: EM131832684

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