Spearhead Specialties issued a 2-year,$150,000,14% debenture on January 1,20X3 dated as of that date.The bond will pay interest every June 30 and December 31,with the principal to be paid on December 31,20X4.The effective interest rate on the bond is 10%,and the company uses effective-interest amortization.
Given this information and using the present value tables
a.determine the selling price for the bond.
b.provide the journal entry on January 1,20X3.

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The Answer of Spearhead Specialties issued a 2-year,$150,000,14% debenture on January 1,20X3 dated as of that date.The bond will pay interest every June 30 and December 31,with the principal to be paid on December 31,20X4.The effective interest rate on the bond is 10%,and the company uses effective-interest amortization.
Given this information and using the present value tables
a.determine the selling price for the bond.
b.provide the journal entry on January 1,20X3.

Spearhead Specialties Issued a 2-Year,$150,000,14% Debenture on January 1,20X3 Dated