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A. On January 1,2019, Snuggly Bunny Ltd. issued 55,000,000 of 4%, fifteen-year bonds priced to yield 5%. Interest is payable on June 30 and December

A. On January 1,2019, Snuggly Bunny Ltd. issued 55,000,000 of 4%, fifteen-year bonds priced to yield 5%. Interest is payable on June 30 and December 31. Snuggly repurchases the outstanding bonds on July 1, 2021, at which time the market rate of interest is 3.5%. Prepare the following entries 1. January 2019 2. July 1, 2021 2. July 1, 2021

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