On 7114 sasha issued 2000000 12 bond maturing in 5 years, Ask an Expert

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On 7/1/14 sasha issued $2,000,000 12% bond, maturing in 5 years with a yield of 10% compounded semi annually. The bonds are accounted for under the effective interest method. 1. At what amount were the bonds issued? 2. Prepare debits and credits through the life of the bond. 3. Prepare the original journal entry. 4. Prepare amortization schedule. 5. prepare journal entry to record the 12/31/15 interest related to the bond

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92048372

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