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I really need help with this question ASAP if possible. On January 1, 2017, Tusk Company issued $300 million of bonds with a 6% coupon

I really need help with this question ASAP if possible. image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

On January 1, 2017, Tusk Company issued $300 million of bonds with a 6% coupon interest rate. The bonds mature in 10 years and pay interest annually on December 31 of each year. The market rate of interest on January 1, 2017, for bonds of this risk class was 6%. Tusk Company closes its books on December 31. Tusk elected the fair value option under ASU 2016-1 to account for the bonds. Use (PV of 1, PVAD of 1, and PVOA of 1 (Use the appropriate factor(s) from the tables provided.) Required What amount will appear for the bonds on Tusk Company's balance sheet on January 1,2017? 2. What journal entries will Tusk Company make during 2017 to record the effects of the bonds if the market interest rate for these types of bonds is 9% at December 31, 2017? Complete this question by entering your answers in the tabs below Required1 Required 2 What journal entries will Tusk Company make during 2017 to record the effects of the bonds if the market interest rate for these types of bonds is 9% at December 31, 2017? (If no entry is required for a particular transaction, select "No joumal entry required" in the first account field. Enter your answers rounded to the nearest whole dollar and not millions of dollars.)

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