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help! asap! On January 1, 2022, Jones Corp. issues $3,500,000 in 10 - year bonds that pay 72 , while bonds of similar risk and
help! asap!
On January 1, 2022, Jones Corp. issues $3,500,000 in 10 - year bonds that pay 72 , while bonds of similar risk and maturity are paying 85 . They pay interest semi-annually on June 30th and December 31th, They use the effective interest method to calculate interest expense SHOW YOUR WORK, Include calculations, rates, and factors. Click to open: REQUIREMENT 1 (7 points): Provide the number of compounding periods for the bonds Provide the market interest rate per compounding period Provide the amount of cash paid for each semi-annual interest payment Provide the total cash received at issuance for the bonds Was this bond issued at a discount or a premium? REQUIREMENT 2 (3 points): Prepare the journat entry to record issuance of the bonds on January 1,2022 by Jones Corp:: REQUIREMENT 3 ( 3 points): Prepare the journal entry to record the interest payment on June 30,2022 by Jones Corp Step by Step Solution
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