Question

Hello please help with the follwing problem, the journal entries are correct just need help sovling for them. Thank you please se attached.

The Bradford Company issued 6% bonds, dated January 1, with a face amount of $50 million on January 1, 2013 to Sawton-Bone Corporation. The bonds mature on December 31, 2017 (5 years). For bonds of similar risk and maturity, the market yield is 8%. Interest is paid semiannually on June 30 and December 31, (FY of $1 PV of $1, FVA of $1.PVA of S1, FVAD of $1 and PVAD of S1) (Use appropriate factors ) from the tables provided.) Required: 1 Prepare the journal entry to record the purchase of the bonds by Saxton-Bose on January 1, 2013. (Enter your answers in whole dollars, if no entry is required for a ransaction, select “No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the purchase of the bonds by Saxton-Bose. Note: Enter debits before credits. Debit Credit Date General Journal January 01, 2013 and investment L Discount on bond investment 150,000,000 Record entry Clear entry View general journal

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