Hello, I need formulas explaining the answers, thank you. 3 The Growing Company is expanding and they need some cash to helpwith their expansion. The company has decided to issue a bondwith an eight year maturity. The bond was issued on January 1, 2020.The principal for the bond is $37,500,000 and the bond was issued at a discount.The bond pays interest semi annuallyRequiredD.Prepare the journal entry for January 1, 2020 --- show your workЕ.Prepare the journal entry for the interest/annuity paymentFPrepare the amortization journal entry for the premiumGExplain why interest expense dollar amount is different than cash the dollaramount if you combine transaction E and F

Solution: Introduction:A bond is a financial debt instrument so it requires its issuing company to…

The Growing Company is expanding and they need some cash to help with their expansion. The company has decided to issue a bond with an eight year maturity. The bond was issued on January 1, 2020. The principal for the bond is $37,500,000 and the bond was issued at a d The bond pays interest semi annually

The Growing Company is expanding and they need some cash to help with their expansion. The company has decided to issue a bond with an eight year maturity. The bond was issued on January 1, 2020. The principal for the bond is $37,500,000 and the bond was issued at a d The bond pays interest semi annually

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 93PSB

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