On January 1, 2021, a company issued serial bonds with a face value of 3,000,000 and a stated rate of 12%. Interest is payable annually every December 31. The bonds were issued to yield 10% The bonds mature at an annual installment of 1,000,000 every December 31. How much is the carrying value of the bonds on December 31,2021?

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A:

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A: Given that: Par value of bonds = $720,000 Issue price of bonds $757,732

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A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

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A: Calculate the present value of the principal amount as shown below:

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A: Bond value = E(1-(1+r)-n)/r + F/(1+r)n Where F = face value = 600000 E = semiannual coupon payment =…

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Q: On January

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A: Prepare journal entries as follows: Result:

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A: 1.

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