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O Ole C/Users/tanchama/Desktop/Addition 20 20ary 20redemption problems revise... A Boud 1. On January 1, 2018 Bano Corporation issued $1.500,000 Face Value of 10% coupon bonds
O Ole C/Users/tanchama/Desktop/Addition 20 20ary 20redemption problems revise... A Boud 1. On January 1, 2018 Bano Corporation issued $1.500,000 Face Value of 10% coupon bonds at a price of 103 de December 31 2027. Interest on the bonds is payable anayeach December 31. The premium on the bond is being amortized on a straighine basis over the ten years (Straight line is not materially different in effect from the preferred effective interest method). The bonds we calable at a price of 100% and on January 1, 2024, called all $1.500,000 Face amount of the bonds and redeemed them. There are no issue costs ignoring income tes, compute the amount of gain er due to be recognized by Banno as a result of retiring the bonds in 2024 and prepare the jumal entry to record the redemption 2. Pe do problem 1. but this time assume that there were $2,000 of issue costs. Also answer, what is the effect of the costs on the gain or loss you Type here to search 12 1 2 3 $ 4 96 5 & 7 1 o B 9 Q W E R T Y U 1 O P A S D F G H N X C V B N M
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