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Check Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of S730 milion on January t 2018 the bonds sold for $675,079,545
Check Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of S730 milion on January t 2018 the bonds sold for $675,079,545 and mature on December 31 2037 20 years). For bonds of similar is paid semiannually on June 30 and December 31 risk and maturity the market yield was 12%. Interest Required: 1, to 3. Prepare the journal entry to record their issuance by Federal on January 1, 2018, interest on June 30,2018 at the effctive rate and interest on December 31, 2018 (at the effective rate) 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2018, balance sheet? Complete this question by entering your answers in the tabs below Req 1 to 3 Req 4 Prepare the journal entry to record their issuance by Federal on January 1, 2018, interest on June 30, 2018 (at the effective rate) and interest on December 31, 2018 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)
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