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mostly need assistance with question 2 & 3 please, thanks im advance Following are the non-strategic investment transactions of Corona Inc:: 2023 Jan. 1. Purchased
mostly need assistance with question 2 & 3 please, thanks im advance
Following are the non-strategic investment transactions of Corona Inc:: 2023 Jan. 1. Purchased for $87,372 an 9,5%,883,000 bond that watures in 17 years froe Honna Corporation when the market interest rate. was 8.9%. There was a $50 transaction fee included in the above-noted paynent anount. Interest is paid semiannualiy. beginning June 30, 2923. The acquivition was made with intention to hold to maturity. June 30 Received interest on the Hanna bond. July 1 Patd $124,393 for a Prust Inc. bond with a par value of $128,000 and a trelve-years tern. The bond pays interest quarterly beginning Septeeber 30, 2023, at the annual rate of 9.3s1, the manket interest rate on the date of purchase was 9.71. There was a $50 transaction fee included in the above-noted paynent anount. Sent. 30 Received interest on the Trust bond. Dec. 31 Received interest on the Hanna and Trust bonds. 31 The fair values of the bonds on this date equalled the fair values. Required: 1. For each of the bond investments. prepare an amortization schedule showing only 2023 and 2024 . (Round your intermediate and finol answers to the nearest whole dollis amount. Enter all the omounts os positive values.) 2. Prepare the entries to record the transactions described above. (Enter oll the amounts as positive values. Do not round intermediate colculations and round your final onswers to the nearest dollar.) Journal entry worksheet 45 Record the purchase of a 17-years, 9.5\%, $83,000 bond to be held as a longterm investment. Note: Enter debits before credits. 3. Show how the investments would be reported on Corona's December 31, 2023, balance sheet, (Do not round intermediote calculations and round your final onswer to the nearest dollor.) Step by Step Solution
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