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1. On January 1, 2020, Parker corporation has an outstanding bond issue with a face amount of 800,000 and a carrying amount of $780,000. Parker

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1. On January 1, 2020, Parker corporation has an outstanding bond issue with a face amount of 800,000 and a carrying amount of $780,000. Parker calls the bonds at 102. Prepare the journal entry to record the bond redemption 2. On January 1, 2019, Nebraska corporation issued $500,000, 8%, 15-year bonds, with semi-annual interest payments. Nebraska will pay interest on July 1 and January 1. the bonds were issued to yield an effective rate of 6%. a) Compute the proceeds of the bond issue. b) Prepare a bond amortization table for 2019 through 202 c) Prepare all necessary journal entries related to the bond issue for Nebraska from issuance (sale) of the bonds through the first two interest payments

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