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How do I do this problem in the Intro to financial accounting book, question 9-63? 9-63 Bonds Issued at a Premium (Alternate is 9-64.) On

image text in transcribed How do I do this problem in the Intro to financial accounting book, question 9-63?

9-63 Bonds Issued at a Premium (Alternate is 9-64.) On January 1, 20X0, Global Travel issued $6 million of 5-year, 10% debentures. The market interest rate at issuance was 8%. Interest is paid semiannually. 1. Compute the proceeds from issuing the debentures 2. By using the balance sheet equation format, prepare an analysis of this bond transaction. Show entries for the issuer concerning (a) issuance, (b) first semiannual interest payment, and (c) payment of maturity value. 3. Show the corresponding journal entries for (a), (b), and (c) in requirement 2. 4. Show how the bond-related accounts would appear on the balance sheets as of January 1, 20X0, and July 1, 20X0. Assume the semiannual interest payments and amortization due on the balance sheet date have been recorded. 5. Calculate the interest expense for the 6-month period ending December 31, 20XO

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