Solution-Find what the bonds will sell at

Find what the bonds will sell at

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Reference no: EM132759511

Problem 1: When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at

a. a premium

b. their face value

c. their maturity value

d. discount.

Problem 2: When a bond issued at face value is retired, what is the journal entry?

a. Debit bond interest expense; credit cash

b. Debit bonds payable; credit cash

c. debit cash, credit bonds payable

d. debit cash; credit bond interest expense

Reference no: EM132759511

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Find what the bonds will sell at

Reference no: EM132759511

Reference no: EM132759511

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