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On January 1, 2019 IT Group issued $20 million of 6% bonds. Interest is payable semiannually on June 30 th and December 31. The bonds
- On January 1, 2019 IT Group issued $20 million of 6% bonds. Interest is payable semiannually on June 30th and December 31. The bonds were issued at an effective annual rate of 5% and mature in 10 years.
- Compute this issuance price for these bonds and prepare the journal entry to record their issuance.
- Prepare an amortization table that covers the first four coupon payments made related to these bonds.
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