Universal Foods issued bonds, dated January with a face amount of $ million on January
The bonds mature on December years
The market rate of interest for similar issues was
Interest is paid semiannually on June and December
Universal uses the straightline method.
Required:
Determine the price of the bonds at January
to Prepare the journal entries to record their issuance by Universal Foods on January interest on June and interest on December
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Complete this question by entering your answers in the tabs below.
Determine the price of the bonds at January
Note: Round your final answer to the nearest whole dollars.
Price of bonds
$
