At December 31, 2021, Marmel Company, issued $22,000 in bonds, 11% for 5-years at Ralh...
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At December 31, 2021, Marmel Company, issued $22,000 in bonds, 11% for 5-years at Ralh Company. In this moment, the market rate is 10%. The bonds paid interest annually. Instructions 1. Calculate the present value of the bonds. 2. Prepare the journal entries for Marmel Company issues the bonds at December 31, 2021. 3. Prepare the journal entries for Ralh Company purchase the bonds as investment at December 31, 2021
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