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E14.11 (LO 2) (Entries for Bond Transactions) On January 1, 2023, Osborn Inc. sold 12% bonds having a maturity value of $800,000 for $860,652, which
E14.11 (LO 2) (Entries for Bond Transactions) On January 1, 2023, Osborn Inc. sold 12\% bonds having a maturity value of $800,000 for $860,652, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2023, and mature on January 1, 2028, with interest payable on January 1 of each year. The company follows IFRS and uses the effective interest method. Round calculations to the nearest dollar. Instructions a. Prepare the journal entry at the date of issue. b. Prepare a schedule of interest expense and bond amortization for 2023 through 2026. c. Prepare the journal entries to record the interest payment and the amortization for 2023. d. Prepare the journal entries to record the interest payment and the amortization for 2025
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