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E 1 0 - 2 2 ( Static ) Recording and Reporting a Bond Issued at a Premium ( Straight - Line Amortization with Premium
EStatic Recording and Reporting a Bond Issued at a Premium StraightLine Amortization with Premium Account LO
On January of this year, Kona Corporation sold bonds with a face value of $ and a coupon rate of percent. The bonds mature in four years and pay interest semiannually every June and December Kona uses the straightline amortization method and also uses a premium account. Assume an annual market rate of interest of percent. FV of $ PV of $ FVA of $ and PVA of $
Note: Use appropriate factors from the tables provided.
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& Prepare the journal entry to record the issuance of the bonds and the interest payment on June of this year.
What bonds payable amount will Kona report on its June balance sheet?Answer is not complete.
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Prepare the journal entry to record the issuance of the bonds and the interest payment on June of this year. If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your intermediate calculations and final answers to whole dollars.
tableNoDate,General Journal,Debit,CreditJanuary Cash,Bonds payable,
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