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2. Steambaat Company issued the following ten-year bonds on January I, 2021: $200,000 maturity value, 5% interest payable annually on each December 31. The bonds

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2. Steambaat Company issued the following ten-year bonds on January I, 2021: $200,000 maturity value, 5% interest payable annually on each December 31. The bonds were dated January 1, 2021 and the accounting period ends December 31. A. Assuming the bonds yielded 5N. a. How much cash did Steamboat Company coliect on January 1, 2021, as a result of the issuance of these bonds? b. How much Interest Expense did Steamboat eompany need to record on December 31*, 2021, as a result of these bondi? B. Assuming the bonds yielded 6%. a. How much cash did Stennboat Conpaty colloct on lanuary 1 ", 2021, as a result of the issuance of these boods? b. How mach literest Expense did Steamboar company need to record on December 31.2021, as a result of these boods? c. What journal entry would Steamboat make to reconf the above Interest Expense on December 31=, 2021

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