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1.On January 1, 2018, White Water issues $440,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming
1.On January 1, 2018, White Water issues $440,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $410,474.
a. Complete the first three rows of an amortization table. b.Record the bond issue on January 1, 2018, and the first two interest payments on December 31, 2018, and December 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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