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Novak Corporation wished to raise money for a series of upcoming projects. On July 1, 2020, the company issued bonds with a face value of

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Novak Corporation wished to raise money for a series of upcoming projects. On July 1, 2020, the company issued bonds with a face value of $5.185,000 due in 5 years, paying interest at a face rate of 6% on January 1 and fuly 1 each year. The bonds were issued to yield 4\%. Novak used the effective interest method of amortization for bond discounts or premiums. The company's year-end was September 30. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Calculate the premium or discount on the bonds. (For colculation purposes, use 5 decimal places as displayed in the factor table provided and answers to 0 decimal places, eg. 5.275.) on bond 5 Prepare a complete Bond Premium/Discount Amortization Schedule (i.e. all five years) for Novak Corporation. (Round answers to 0 decimal places. eq. 5.275.1 Prepare the journal entry to record the issue of the bonds. (Round answer to O decimal ploces, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Prepare any required accrual entry at September 30.2020. (Round answer to 0 decimal places, eg. 5,275. Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.)

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