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On December 1, 2022 BondBeagle Inc. issues $1,500,000 face value bonds. The bond date February 1, 2022, and the bonds carry a coupon rate
On December 1, 2022 BondBeagle Inc. issues $1,500,000 face value bonds. The bond date February 1, 2022, and the bonds carry a coupon rate of 6% per year, payable semi-annually January 31 and July 31. The bonds' maturity date is January 31, 2027. The bonds provide annual yield of 4%. BondBeagle Inc. uses the effective interest rate method to amortize any bond premium or discount. BondBeagle Inc.'s accounting year-end is September 30. Required Present BondBeagle's journal entry to record the issuance of the bonds: show all supporting calculations.
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