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can someone plz help me with this problem. I don't understand this HW On January 1, 2022, Wolf Inc. issued 9% bonds dated January 1,
can someone plz help me with this problem. I don't understand this HW
On January 1, 2022, Wolf Inc. issued 9% bonds dated January 1, 2022, with a face amount of $200,000. The bonds mature in 10 years. The effective interest rate for these bonds was 9.4%. Interest is paid semiannually on June 30 and December 31 . Wolf paid investment banking fees of $28,000 related to the bond issuance. Wolf's fiscal year is the calendar year. Wolf uses the effective interest method of amortization. Required: 1. Prepare the journal entry to record the bond issuance on January 1, 2022. 2. Prepare the necessary journal entries on June 30 and December 31, 2022. 3. Prepare the necessary joumal entry on June 30, 2023. 4. Prepare the June 30 and December 31,2022 interest joumal entries assuming that Wolf uses the straight-line methodStep by Step Solution
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