Refer to the information for Charger Battery above. Charger Battery issued $200,000 of 11%, 7-year bonds on
Question:
Charger Battery issued $200,000 of 11%, 7-year bonds on January 1, 2020, for $220,132.
Interest is paid annually on December 31. The market rate of interest is 9%.
Required:
Prepare the journal entries for December 31, 2021 and 2022.
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