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Record rankin ?corporation issuance of the bonds on march

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Reference no: EM132579100

Corporation issued $560,000 of 5?%, 10?-year bonds payable on March? 31, 2019. The market interest rate at the date of issuance was 9?%, and the bonds pay interest semiannually. Rankin ?Corporation's year-end is March 31.

Question 1. Using the PV function in Excel Superscript Excel?, calculate the issue price of the bonds.

Question 2. Prepare an? effective-interest amortization table for the bonds through the first three interest payments. Round amounts to the nearest dollar.

Question 3. Record Rankin ?Corporation's issuance of the bonds on March? 31, 2019?, and payment of the first semiannual interest amount and amortization of the bond discount on September? 30, 2019. Explanations are not required.

Reference no: EM132579100

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