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Interest is paid semiannually on June 30 and December 31. Assume that EV Car Corporation elected the fair value option. Due to changes in general

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Interest is paid semiannually on June 30 and December 31. Assume that EV Car Corporation elected the fair value option. Due to changes in general market rates, the effective rate (yield) was 8% on 6/30/2021. Required: 1. Prepare the journal entries that EV Car Corporation recorded on 6/30/2021. 2. Prepare the journal entries that EV Car Corporation recorded on 12/31/2021. 3. What was the total effect of the bonds on EV Car Corporation's pre-tax income for 2021? Show your work

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