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On January 2024, mania enterprises issued 10%bonds dated january 1 , 2024 with a face amount of 19.2 million. The bonds mature in 2033 10
On January 2024, mania enterprises issued 10%bonds dated january 1 , 2024 with a face amount of 19.2 million. The bonds mature in 2033 10 yearsFor bonds to similar risk and maturity the market yield 12% interest is paid semi annually on June 30 and December 31. Required Determine the price of the bonds on 2024 Prepare the journal entry to record the bond by Mania on January 1, 2024. Prepare the journal entry to record interest on June 30,2024using the effective interest method. Prepare the journal entry to record interest on December 31 2024using the effective interest method
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