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On January 1, 2020, Splish Company sold 11% bonds having a maturity value of $ 890,000 for $ 923,738.00, which provides the bondholders with a

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On January 1, 2020, Splish Company sold 11% bonds having a maturity value of $ 890,000 for $ 923,738.00, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2020 and mature January 1, 2025, with interest payable December 31 of each year, Splish Company allocates interest and unamortized discount or premium on the effective-interest basis. (a) Your Answer Correct Answer Your answer is correct Prepare the journal entry at the date of the bond issuance (Round answer to 2 decimal places, eg. 38,548.25. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit uary 1, 2020 Cash 923738 Premium on Bonds Payable 33738 Bonds Payable 890000 Prepare a schedule of interest expense and bond amortization for 2020-2022. (Round answer to 2 decimal places, eg. 38,548.25.) Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method Cash Paid Debit Interest Expense Debit Bond Premium Carryi Amount of Date 1/1/20 $ $ 12/31/20 12/31/21 12/31/22

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