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Need help with problem 14-3. Need answers a-e, questions underneath. Thank you! $2,000,000 to com annually January 1. yield 10 January 1, 2016, interest on

Need help with problem 14-3. Need answers a-e, questions underneath. Thank you! image text in transcribed
$2,000,000 to com annually January 1. yield 10 January 1, 2016, interest on each The bonds and pay Prepare the journal entry to record theissuance of the bonds on January 1, 2016 effective-interest a. schedule up to and including January 1, 2020, using the ithod Prepare a bond amortization of the bonds at a cost of $1.065 000 pl accrued Assume that on July 1, 2019, Venezuela Co us Prepare the journal entry to record this redemption. 14-3 (L 01.3) (Negative Amortization Good Deal Inc. developed a new sales gimmick to help sell its in automobiles. Because many new car buyers need financing, Good-Deal offered a low downpayment and low rst year after Purchase. It believes that this promotion will bring in some new buyers. On January 1, 2017, customer purchased a new s33,000 automobile, making a downpayment of $1.000 The signed a note indicating a be 8% and that quarterly payments would be years. For the first year, that the annual rate of interest would on 1, Good-Deal payment to be made 2018 this customer was required to make regular quarterly payments that would one-year period, the as of January pay off the Instructions (a) Prepare a note amortization schedule for the first year. (b) Indicate the amount the customer owes on the contract at the end of the first year. Compute the amount of the new quarterly payments. (d) Prepare a note amortization schedule for these new payments for the next 2 years. (e) What do you think of the new sales promotion used by Good-Deal? P14-4 (L01,2,5) assuance and Redemption of Bonds Income statement Presentation) Holiday Company issued its 25year mortgage bonds in the principal amount of $3,000,000 on January 2, 2003, at a discount of to amortize by charges to expense over the life of the issue on a straight-line basis. The indenture securing the issue provided

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