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What is the carrying value of the bond as of december

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£1,000,000 face value bonds was issued on January 1, 2001, with a coupon rate of 5%, and interest being paid semi-annually every January 1 and July 1 starting on July 1, 2001, until the maturity date on January 1, 2007. The bonds were issued to yield 4%.

Question 1: What is the entry on January 1, 2001 for the bond issuance?

Question 2: How much is the interest expense for 2001?

Question 3: How much interest was paid on July 1, 2003, if any?

Question 4: What is the carrying value of the bond as of December 31, 2005?

Question 5: What is the carrying value of the bond as of December 31, 2006?

Reference no: EM132919626

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