On January 1, 2014, Edwards Corporation issued $300,000, 5%, 10-year bonds dated January 1, 2014, to yield 4%. The bonds pay semi-annual interest on January 1 and July 1.
Instructions
Calculate the selling price of the bond and prepare the journal entry to record the issue of the bond.

Question

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The Answer of On January 1, 2014, Edwards Corporation issued $300,000, 5%, 10-year bonds dated January 1, 2014, to yield 4%. The bonds pay semi-annual interest on January 1 and July 1.
Instructions
Calculate the selling price of the bond and prepare the journal entry to record the issue of the bond.

On January 1, 2014, Edwards Corporation Issued $300,000, 5%, 10-Year