Morning automation LTD issued 6%, can your bounce with a face value of $100 million at par on may 1, 2020. The bonds pay interests on October 31 and April 30 each year. The first payment was Made on October 31, 2020. Morning's year end is December 31.
a. Determine the cast received on issuence and the yield for the 10-year bonds issued by morning automation.
b. Prepare di jurnal entry for the issuance of the bond.
c. Prepare di jurnal entries required at October 31, 2020 and the entry for the interest payment on April 30, 2021.
