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On January 1, 2018, Purellis Corporation issues 3-year $200,000 bonds at 97. The stated rate was 10% and the effective rate was 12%. Interest is

On January 1, 2018, Purellis Corporation issues 3-year $200,000 bonds at 97. The stated rate was 10% and the effective rate was 12%. Interest is payable semiannually on June 30 and December 31.

Prepare an amortization schedule for the first two interest payments using the straight-line method

. Prepare the entry for the first interest payment. You MUST show all calculations. Round to the nearest whole dollar. Do not forget journal entry descriptions.

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