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E14.9 (LO 1) (Entries for Bond Transactions) On January 1, 2022, Osborn ple sold 12% bonds having a maturity value of 800,000 for 860,651.79, which
E14.9 (LO 1) (Entries for Bond Transactions) On January 1, 2022, Osborn ple sold 12% bonds having a maturity value of 800,000 for 860,651.79, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2022, and mature January 1, 2027, with interest payable December 31 of each year. Instructions a. Prepare the journal entry at the date of the bond issuance. b. Prepare a schedule of interest expense and bond amortization for 2022-2024. c. Prepare the journal entry to record the interest payment and the amortization for 2022. d. Prepare the journal entry to record the interest payment and the amortization for 2024.
E14.9) (LO 1) (Entries for Bond Transactions) On January 1. 2022, Osborn ple sold 12\% bonds having a maturity value of 800,000 for 860,651.79, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2022, and mature. January 1, 2027, with interest payable December 31 of each year. Instructions a. Prepare the journal entry at the date of the bond issuance. b. Prepare a schedule of interest expense and bond amortization for 2022-2024. c. Prepare the journal entry to record the interest payment and the amortization for 2022. d. Prepare the journal entry to record the interest payment and the amortization for 2024 Step by Step Solution
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