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4 . In Jan 1 , 2 0 2 4 XYZ issued a 5 - Year $ 1 M bond at 6 % coupon rate

4. In Jan 1,2024 XYZ issued a 5-Year $1M bond at 6% coupon rate with interest payable semi-annually for $1,089,826. The current market rate was 4%. SHOW all calculations and prepare ALL Journal Entries for the bond in 2024.(Note: the formula to calculate PV is PV = FV /(1+1%)^n)(18 marks)

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