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I NEED HELP WITH 6. THANK YOU! Exercise 14-29 (Algo) Reporting bonds at fair value [LO14-6] Federal Semiconductors issued 8% bonds, dated January 1, with

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Exercise 14-29 (Algo) Reporting bonds at fair value [LO14-6] Federal Semiconductors issued 8% bonds, dated January 1, with a face amount of $750 million on January 1, 2024. - The bonds sold for $680,994,058 and mature on December 31,2043 (20 years), - For bonds of similar risk and maturity the market yield was 9%. - Interest is paid semiannually on June 30 and December 31 . - Federal determines interest at the effective rate. - Federal elected the option to report these bonds at their fair value. - On December 31, 2024, the fair value of the bonds was $670 milion as determined by their market value in the over-the-counter market. Assume the fair value of the bonds on December 31,2025 , had risen to $676 million. Required: Complete the below table to record the following journal entries 1. \& 2. Prepare the journal entries to record interest on June 30, 2024 , December 31,2024 , and adjust the bonds to their fair value for presentation in the December 31, 2024 balance sheet, and, record interest on June 30, 2025, December 31,2025 , and adjust the bonds to their fair value for presentation in the December 31,2025 , balance sheet. Federal determined that none of the change in fair value in 2024 was due to a decline in general interest rates and one-half of the increase in fair value in 2025 was due to a decline in general interest rates

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