P10.4a (lo 3, 5) kershaw electric sold $6,000,000, 10%, 15-year bonds on january 1, 2019. the bonds were dated january 1, 2019, and paid interest on january 1. the bonds were sold at 98. prepare entries to record issuance of bonds, interest accrual, and bond redemption. instructions a. prepare the journal entry to record the issuance of the bonds on january 1, 2019. b. at december 31, 2019, $8,000 of the discount on bonds payable account has been amortized. show the balance sheet presentation of the long-term liability at december 31, 2019. c. on january 1, 2021, when the carrying value of the bonds was $5,896,000, the company redeemed the bonds at 102. record the redemption of the bonds assuming that interest for the period has already been paid.

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.