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On January 1, 2022 Mary Company issues a $800,000, 4%, 10 year bond that pays interest every 6/30 and 12/31. Required; A. Determine the following
On January 1, 2022 Mary Company issues a $800,000, 4%, 10 year bond that pays interest every 6/30 and 12/31. Required; A. Determine the following for this bond; 1. Issue date 2. Principle 3. Maturity date 4. Period 5. Stated annual interest rate 6. Amount of interest to paid on each interest payment date B. Prepare the journal entries for the following dates; 1. 1/1/22 2. 6/31/22 3. 12/31/22 4. 12/31/31
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