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Compute the price of the bond and record sale entry

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Reference no: EM132440558

Problem: Rock Corporation issued $100,000 of 6% bonds on April 1, year 5. The bonds were dated January 1 year5, and mature December 31 year 9, with interest payable each December 31. The bonds were issued at 8% plus accrued interest.

Question 1: Compute the price of the bond and record sale entry

Question 2: Prepare Rock's journal entries for the first and second interest payment

Question 3: Assume rock corporation re-purchased the bond at 119 on September 1 year 7. Record the re-purchase entry

Reference no: EM132440558

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Compute the price of the bond and record sale entry : Rock Corporation issued $100,000 of 6% bonds on April 1, year 5. The bonds were dated January 1 year5, and mature December 31 year 9, with interest payable
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