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Question - Harvey Company issued $100,000 of 9%, ten-year bonds when the market rate of interest was 11%.
Selected present value interest factors (PVIF) are:
PV factor of $1, 10 years at 9%: 0.42241
PV factor of $1, 10 years at 11%: 0.35218
PV factor of an Annuity of $1, 10 years at 9%: 6.41766
PV factor of an Annuity of $1, 10 years at 11%: 5.88923
Required - Make the entry to record this bond issuance?
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