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More Q3. (10 marks) On January 1, 2020 Hebon Co imed five-year bonds with a face value of $200.000 and a stated interest rate
More Q3. (10 marks) On January 1, 2020 Hebon Co imed five-year bonds with a face value of $200.000 and a stated interest rate of 5% payable semianmally on July 1 and January 1. The bonds were sold to yield 10% Present value table factors are Present value of an ordinary anuity of 1 for 5 periods at 10% 3.79079 Present value of an ordinary annuity of 1 for 10 periods at 8% 6.71008 Present value of an ordinary annuity of 1 for 10 periods at 5% Present value of 1 for 5 periods at 10% 7,72173 0.62092 Present value of 1 for 10 periods at 8% 0.46319 0.61391 Present value of 1 for 10 periods at 5% Instructions: a) Prepare the amortization table for 2020. b) Record all entries required for 2020, assuming that amortization is recorded in interest payment dates c) If Bonds were called at 102 in April 1, 2021 what would be the journal entry?
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