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Hi can you please help me with these 2 questions. There are no missing data, graphs or anything else. redemption P15-2B Petoskey Co. sold $800,000,

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Hi can you please help me with these 2 questions. There are no missing data, graphs or anything else.

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redemption P15-2B Petoskey Co. sold $800,000, 9%, 10-year bonds on January 1, 2012. The bonds were dated January 1, and interest is paid on January 1 and July 1. The bonds were sold at 105. Instructions (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2012. (b) At December 31, 2012, the balance in the Premium on Bonds Payable account is $36,000. Show the balance sheet presentation of accrued interest and the bond liability at December 31, 2012. (c) On January 1, 2014, when the carrying value of the bonds was $832,000, the company redeemed the bonds at 105. Record the redemption of the bonds assuming that interest for the period has already been paid.E15-7 Jacobson Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2012. The bonds pay interest twice a year. Instructions (a) 1. Prepare the journal entry to record the issuance of the bonds. 2. Compute the total cost of borrowing for these bonds. (b) Repeat the requirements from part (a), assuming the bonds were issued at 105

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