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Everything in red is wrong. I heelp help with the correct answers for those in red. Thank you! Mercer Corporation acqui ed S400 000 o
Everything in red is wrong. I heelp help with the correct answers for those in red.
Thank you!
Mercer Corporation acqui ed S400 000 o Park om any's bonds on June 30 2018 S409 9 1 12 The bonds carry a 12% stated interest ate and p ine est sem ann al on June 30 and Decembe 31 The appropriate market interest ate s 11%, and he bonds are due une 30, 2021 Required: 1. Prepare an investmant interest income and premum amortization schedule, using the a. straight-ine memod b. effective interest metnod 2. Prepare journal entries to record the December 31, 2018, and December 31, 2020, interest recsipts using bath methods General Journal Frepare journai entnes to record the December 31, 2018, and December 31, 2020, interest recetssing straighr-ne method. Ademional Instrushons Howw does scaciog wark? GENERAL JOURNAL Score: 777T CREDNT Dec. 31 Cash 4000.00 Interest Income 22.334.81 Investment in Held-to-Matunity Debt Secunties 1,665.19Step by Step Solution
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