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On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid semi-annually September 1 and March 1. The market rate for similar bonds was 5% at the time the bonds were sold. Havenford Corporation has a April 30 year end and uses the effective interest method to amortize any discount or premium.On September 2, 2024, Havenford redeemed 48% of the face value of these bonds at 101 and retired them.1. Calculate the PV of the bonds 2. Complete the amortization table using the effective interest method. 3. Record the following journal entries in the table below. i) Prepare the journal entry to record the issuance of the bond. ii) Prepare the journal entry to accrue the bond interest at corporate year end. iii) Prepare the journal entry to record the first interest payment. iv) Prepare the journal entry for the retirement of the bonds. Please do it properly correctly and with all the steps or calculations Kindly do it right i need a special expert for this Moroever please do it with easy way not using calculus !! need a proffesional

On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid semi-annually September 1 and March 1. The market rate for similar bonds was 5% at the time the bonds were sold. Havenford Corporation has a April 30 year end and uses the effective interest method to amortize any discount or premium.On September 2, 2024, Havenford redeemed 48% of the face value of these bonds at 101 and retired them.1. Calculate the PV of the bonds 2. Complete the amortization table using the effective interest method. 3. Record the following journal entries in the table below. i) Prepare the journal entry to record the issuance of the bond. ii) Prepare the journal entry to accrue the bond interest at corporate year end. iii) Prepare the journal entry to record the first interest payment. iv) Prepare the journal entry for the retirement of the bonds. Please do it properly correctly and with all the steps or calculations Kindly do it right i need a special expert for this Moroever please do it with easy way not using calculus !! need a proffesional

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 16E
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On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid semi-annually September 1 and March 1. The market rate for similar bonds was 5% at the time the bonds were sold. Havenford Corporation has a April 30 year end and uses the effective interest method to amortize any discount or premium.On September 2, 2024, Havenford redeemed 48% of the face value of these bonds at 101 and retired them.1. Calculate the PV of the bonds 2. Complete the amortization table using the effective interest method. 3. Record the following journal entries in the table below. i) Prepare the journal entry to record the issuance of the bond. ii) Prepare the journal entry to accrue the bond interest at corporate year end. iii) Prepare the journal entry to record the first interest payment. iv) Prepare the journal entry for the retirement of the bonds. Please do it properly correctly and with all the steps or calculations Kindly do it right i need a special expert for this Moroever please do it with easy way not using calculus !! need a proffesional
Transcribed Image Text:On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid semi-annually September 1 and March 1. The market rate for similar bonds was 5% at the time the bonds were sold. Havenford Corporation has a April 30 year end and uses the effective interest method to amortize any discount or premium.On September 2, 2024, Havenford redeemed 48% of the face value of these bonds at 101 and retired them.1. Calculate the PV of the bonds 2. Complete the amortization table using the effective interest method. 3. Record the following journal entries in the table below. i) Prepare the journal entry to record the issuance of the bond. ii) Prepare the journal entry to accrue the bond interest at corporate year end. iii) Prepare the journal entry to record the first interest payment. iv) Prepare the journal entry for the retirement of the bonds. Please do it properly correctly and with all the steps or calculations Kindly do it right i need a special expert for this Moroever please do it with easy way not using calculus !! need a proffesional
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