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Exercise 14-09 (Part Level Submission) On June 30, 2020, Kingbird Company issued $5,840,000 face value of 13%, 20-year bonds at $6,279,345, a yield of 12
Exercise 14-09 (Part Level Submission) On June 30, 2020, Kingbird Company issued $5,840,000 face value of 13%, 20-year bonds at $6,279,345, a yield of 12 discount. The bonds pay semiannual interest on June 30 and December 31. Kingbird uses the effective-interest method to amortire bond premium (a) Prepare the journal entries to record the following transactions, (Round answer to decimal places, eg, 38,548. If no entry is required, select "No Entry for the account titles and en o for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) The issuance of the bonds on June 30, 2020 (2) The payment of interest and the amortization of the premium on December 31, 2020 (3) The payment of interest and the amortization of the premium on 30, 2021 (4) The payment of interest and the amortization of the premium on December 31, 2021. Account Titles and Explanation Debit Credit Date (1) June 30, 2020 (2) December 31, 2020 (3) June 30, 2021 (2) December 31, 2020 (3) June 30, 2021 (4) December 31, 2021 Click if you would like to show Work for this questioni Oren Show Work
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