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(10 marks):Question Four 10-year,%Wins Corporation issued $2,000,000 of its 6,2018,On March 31 200 including accrued interest (the effective interest rate,758,bonds for $1 interest is paid
(10 marks):Question Four 10-year,%Wins Corporation issued $2,000,000 of its 6,2018,On March 31 200 including accrued interest (the effective interest rate,758,bonds for $1 interest is paid semi-annually on 2018. The bonds, dated January 1(%8 January 1 and July 1. On January 1, 2020 after paid interest Wins purchased and cancelled them. Wins 20% of the bonds on the open market at $350,000 uses the effective interest rate method for amortization of bond premiums and discounts. Required: ?2018, Journalize the bonds issued On March 31-1 ?2- Journalize all interest entries during 2018 January 1, 2020 and entries Journalize the entry for redemptions of bonds on-4 ?for interest during 2020
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