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(6) Kingbird Co. sells $414,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date

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(6) Kingbird Co. sells $414,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 10%. On October 1, 2021, Kingbird buys back $136,620 worth of bonds for $143.620 (includes accrued interest). Give entries through December 1, 2022. Prepare a bond amortization schedule using the effective interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end (Round answers to 0 decimal places, e.g. 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Carrying Cash Interest Premium Amount of Date Paid Expense Amortized Bonds 6/1/20 $ 12/1/20 6/1/21 12/1/21 6/1/22 12/1/22 6/1/23 12/1/23 6/1/24 Prepare all of the relevant journal entries from the time of sale until December 31, 2022. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 0 decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 6/1/20 12/1/20 12/31/20 6/1/21 10/1/21 (To record interest expense and premium amortization) 10/1/21 (To record buy back of bonds) 12/1/21 12/31/21 6/1/22 12/1/22 Show Work is REQUIRED for this question: Open Show Work

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