On the first day of its fiscal year, chin company issued $18,400,000 of five-year, 8% bonds to finance its operations of producing and selling home improvement products. interest is payable semiannually. the bonds were issued at a market (effective) interest rate of 9%, resulting in chin receiving cash of $17,672,074.

journalize the entries to record the following (refer to the chart of accounts for exact wording of account titles):
(1) issuance of the bonds.
(2) first semiannual interest payment. the bond discount is combined with the semiannual interest payment. (round your answer to the nearest dollar.)
(3) second semiannual interest payment. the bond discount is combined with the semiannual interest payment. (round your answer to the nearest dollar.)

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is:

From what part of income should someone take savings?

The gilbert instrument corporation is considering replacing the wood steamer it currently uses to shape guitar sides. the steamer has 6 years of remaining life. if kept,the steamer will have depreciaiton expenses of $650 for five years and $325 for the sixthyear. its current book value is $3,575, and it can be sold on an internet auction site for$4,150 at this time. if the old steamer is not replaced, it can be sold for $800 at the endof its useful life. gilbert is considering purchasing the side steamer 3000, a higher-end steamer, whichcosts $12,000 and has an estimated useful life of 6 years with an estimated salvage value of$1,500. this steamer falls into the macrs 5-year class, so the applicable depreciationrates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. the new steamer is fasterand allows for an output expansion, so sales would rise by $2,000 per year; the newmachine's much greater efficiency would reduce operating expenses by $1,900 per year.to support the greater sales, the new machine would require that inventories increase by$2,900, but accounts payable would simultaneously increase by $700. gilbert's marginalfederal-plus-state tax rate is 40%, and its wacc is 15%.a. should it replace the old steamer? b. npv of replace = $2,083.51