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I need help on this question quick. Please show work. Thank you! Required information [ The following information applies to the questions displayed below. ]
I need help on this question quick. Please show work. Thank you!
Required information
The following information applies to the questions displayed below.
Claire Corporation is planning to issue bonds with a face value of $ and a coupon rate of percent. The bonds
mature in two years and pay interest quarterly every March June September and December All of the bonds
were sold on January of this year. Claire uses the effectiveinterest amortization method and also uses a discount
account. Assume an annual market rate of interest of percent.FV of $ PV of $ FVA of $ and PVA of $
Note: Use appropriate factors from the tables provided.
Required:
Provide the journal entry to record the issuance of the bonds.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your final
answers to nearest whole dollar amount.
Journal entry worksheet
Record the issuance of the bonds on January
Note: Enter debits before credits.
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