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I am sending this exercise for the third time, please check what the exercise is asking, because the first 2 times it came wrong and
I am sending this exercise for the third time, please check what the exercise is asking, because the first 2 times it came wrong and incomplete. Thanks Parknesly Inc. issued bonds with par value of $2,000,000 on January 1st, 2023, maturing on December 31,2030. The bonds were issued with a coupon rate of 8%, to be paid annually @ 12/31, and priced @ 10% yield. 1- Prepare the journal entry to be recorded @ the issuance date of the bond. 2- Prepare an amortization table, assuming the company uses the effective-interest method. Assume that the bonds on exercise "I" above were retired early, on 1/1/2027, when the market yield 9.5% : Required: a. Calculate the reacquisition price and determine if there was a loss, gain, or no impact in the transaction. b. Prepare the journal entry to account for the early retirement of the bonds @ 1/1/2027
I am sending this exercise for the third time, please check what the exercise is asking, because the first 2 times it came wrong and incomplete. Thanks
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