Federal Semiconductors issued 11% bonds, dated January 1, 2014 with a face amount of $80 million....

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Federal Semiconductors issued 11% bonds, dated January 1, 2014 with a face amount of $80 million. The bonds sold for $75,412,

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Answer 1

Answer #1

Journal Entries:

Req	Date	Acc Title	Debit $	Credit $
1	1-Jan-14	Cash	75412032
		Discount on Bond payable	4587968
		Bond payable		80000000
		(issue of bond at discount)

2	30-Jun-14	Interest expense	4524721.92
		Discount on Bond payable		124721.92	(75412032*6% - 4400000)
		Cash		4400000	(80000000*5.5%)
		(payment of first interest & amortisation of discount)

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Answer 2

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Federal Semiconductors issued 11% bonds, dated January 1, 2014 with a face amount of $80 million....

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Federal Semiconductors issued 8% bonds, dated January 1, with a face amount of $740 million on...

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Federal Semiconductors issued 11% bonds, dated January 1, 2014 with a face amount of $80 million....

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