Stowers research issues bonds dated january 1 2011 that pay

Reference no: EM13594593

Stowers Research issues bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds have a $28,000 par value and an annual contract rate of 8%, and they mature in 10 years.1. The market rate at the date of issuance is 6%. (a) Determine the bonds' issue price on January 1, 2011.(b) Prepare the journal entry to record their issuance.2. The market rate at the date of issuance is 8%. (a) Determine the bonds' issue price on January 1, 2011.(b) Prepare the journal entry to record their issuance.3 The market rate at the date of issuance is 12%. (c) Determine the bonds' issue price on January 1, 2011.(c) Prepare the journal entry to record their issuance.

Reference no: EM13594593

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