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What price would a second investor pay

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Question - On January 1, 2021, Bradley Recreational Products issued $200,000, 12%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $188,058 to yield an annual return of 14%.

Required -

1. Prepare an amortization schedule that determines interest at the effective interest rate.

2. Prepare an amortization schedule by the straight-line method.

3. Prepare the journal entries to record interest expense on June 30, 2023, by each of the two approaches.

4. Assuming the market rate is still 14%, what price would a second investor pay the first investor on June 30, 2023, for $28,000 of the bonds?

Reference no: EM133119458

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