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Refer to the bond details in Problem 14-2A except assume that the bonds are issued at a price of $4895980 Required 1 Prepare the January 1 2017 journal entry to record the bonds issuance

Refer to the bond details in Problem 14-2A, except assume that the bonds are issued at a price of $4,895,980. Required 1. Prepare the January 1, 2017, journal entry to record the bonds issuance. 2. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense. 3. Determine the total bond interest expense to be recognized over the bonds life. 4. Prepare the first two years of an amortization table like Exhibit 14.11 using the straight-line method. 5. Prepare the journal entries to record the first two interest payments.

Jul 14 2020 View more View Less

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