Record the issue of the bonds on May

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Question - On May 1, 2021, Wildhorse Corp. issued $945,000 of 5-year, 7% bonds at 95. The bonds pay interest annually on May 1. Wildhorse's year end is April 30.

Record the issue of the bonds on May 1, 2021.

Calculate the effective rate of the bonds using Excel or a financial calculator.

Use an effective interest amortization table for this bond.

Reference no: EM132912737

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