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A company issued $2,000,000 of 10 year, 9% callable bonds on January 2, 2009 with interest payable on January 2 and July 2. Prepare entries

A company issued $2,000,000 of 10 year, 9% callable bonds on January 2, 2009 with interest payable on January 2 and July 2. Prepare entries for the following transactions: (4 points)

January 2 Issued the bonds for cash at their face amount
July 2 Paid the first semi-annual interest payment on the bonds
2. Your mom calls you and asks you what her payment would be on a new Ford Escape if she had to finance $18,300 (net of her trade and cash down) over either 3 years or 40 months (she gets to pick!). She thinks the best interest rate she can get is 7% at the bank. What is her monthly payment?

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