I need help with this Bringham Company issues bonds with a par value of $520,000. The bonds mature in 10 years and pay 8% annual interest insemiannual payments. The annual market rate for the bonds is 10%. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriafactor(s) from the tables provided.)1. Compute the price of the bonds as of their issue date.2. Prepare the journal entry to record the bonds' issuance.Complete this question by entering your answers in the tabs below.okntntRequired 1Required 2encesCompute the price of the bonds as of their issue date. (Round all table values to 4 decimal places, and use the rounded tablevalues in calculations. Round intermediate calculations to the nearest dollar amount.)Table Values are Based on:n =Cash FlowTable ValueAmountPresent ValuePar (maturity) valueInterest (annuity)Price of bonds< Prev13 of 13Next

Solution 1: Chart Values are based on: n= (10 Years*2) 20 Half years i= (10%/2) 5%…

Bringham Company issues bonds with a par value of $520,000. The bonds mature in 10 years and pay 8% annual interest in semiannual payments. The annual market rate for the bonds is 10%. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appr factor(s) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering vour answ

Bringham Company issues bonds with a par value of $520,000. The bonds mature in 10 years and pay 8% annual interest in semiannual payments. The annual market rate for the bonds is 10%. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appr factor(s) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering vour answ

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter10: Long-term Liabilities

Section: Chapter Questions

Problem 10.3E: Issue Price The following terms relate to independent bond issues: 500 bonds; $1,000 face value; 8%...

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