# Golf World decided to retire the bonds early on January 1, 2020, at 105. Prepare the necessary journal entries to record this early retirement.

Golf World, Inc., issued \$320,000 par value 9% five-year bonds dated January 1,

2018 that will pay interest semiannually on June 30 and December 31. These bonds were issued

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Golf World decided to retire the bonds early on January 1, 2020, at 105. Prepare the necessary journal entries to record this early retirement.
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at \$332,989. The annual market rate is 8% on the issue date.

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How can complete for 4 and 5 requirement information from above: Please including formulas and calculation.

4.   Golf World decided to retire the bonds early on January 1, 2020, at 105. Prepare the necessary journal entries to record this early retirement.

5.   Prove your numbers provided in the problem are correct by showing the table values you would have used to calculate this manually. This is how you will “show your work,” proving the Excel formulas were used correctly.

 GOLF WORLD FIVE-YEAR BOND DATE Beginning Carrying Value Cash Interest Interest Expense Amortize Now Unamortized Premium Ending Carrying Value Bond face value 320,000 2018 Jan 1 Years 5 June 30 Contract rate 9% Dec 31 Market rate 8% 2019 June 30 dollar values table values PV . Dec 31 PRINCIPAL 2020 June 30 INTEREST Dec 31 n = 10 – 2021 June 30 i = 4% Dec 31 2022 June 30 Dec 31 ADD EXCEL TOOLS REQUIREMENTS HERE PV