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In: AccountingI. On November 1, 20x1,Bush Company issued 10% bonds with a face amount of $20...I. On November 1, 20x1,Bush Company issued 10% bonds with a face amount of $20 million.The bonds mature in 10 years. For bonds of similar risk andmaturity, the market yield is 12%. Interest is paid semiannually onApril 30 and October 31. Bush is a calendar-year corporation. Required:(1.) Determine theprice of the bonds at November 1, 20x1.(2.) Prepare thejournal entry to record the bond issuance by Bush on November 1,20x1.(3.) Prepare thejournal entries (using the effective interest method):a. December 31, 20x1b. April 30, 20x2c. October 31, 20x2 *Assume no reversing entry is recorded on January 1, 20x2.(4.) What would be thejournal entry if all bonds are retired at 103 on May 1, 20x3 rightafter the third payment.