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its multiple parts Problem #1 Hillside issues $4,000,000,6%, 15 year bonds dated January 1, 2023. The bonds pay interest semi-annually on June 30 and December
its multiple parts
Problem #1 Hillside issues $4,000,000,6%, 15 year bonds dated January 1, 2023. The bonds pay interest semi-annually on June 30 and December 31. The bonds were issued at $3,456,400. 1. Record the journal entry to issue the bonds on January 1, 2023. 2. a. Record the journal entry to pay the semi-annual interest payment and amortize the discount on June 30, 2023 b. Record the journal entry to pay the semi-annual interest payment and amortize the discount on Dec. 31, 2023. 4. On March 31, 2029. Hillside calls the bonds at 101. Record the journal entry to call the bonds 5. What is the total interest expense for the bonds for: a. One full year? b. The entire 15-year life of the bond? Of the bond had been held until maturity) 6. What is the carrying value of the bonds on a. December 31, 2023? b. December 31. 20242 Step by Step Solution
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