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HELPPP Moon Corp. isues a $200,000 bond on 1/1/21. The contract rate is 7x, the bond has a term of 8 years, and it pays
HELPPP
Moon Corp. isues a $200,000 bond on 1/1/21. The contract rate is 7x, the bond has a term of 8 years, and it pays interest on 6/30 and 12/31 each year. The market rate for similar bonds is 5% The bond is issacd at 5212.000 Picaye provide ali numerical answers rounded to the nearest whole number. Do not inctude the 5 symbol ar commas in your answer, as the answer will be counted wrong. For instance, 5105.28580 should be entered as 105284. a. Journalure the issuance of the bond, (8 points) b. Aurime the straight-line method is used for amortizating. Journalize the firut interest payment. (8 points) sin c. Assume the effective interest method is used for amortization Journalize the fint interest paryment. (10 ooints) Step by Step Solution
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