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On November 1, 2018, Russell Corporation issued $800,000 worth of ten-year, 9 percent bonds 1. The semiannual interest dates are November 1 and May 1

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On November 1, 2018, Russell Corporation issued $800,000 worth of ten-year, 9 percent bonds 1. The semiannual interest dates are November 1 and May 1 2. Because the market interest rate of similar investments was 8.5 percent, the bonds were issued at a price of 103, 3. Ignoring year-end accruals prepare entries in Journal form without explanations to record the bond issue on November 1 2019, and the payments of interest and amortization of premium on May 1 and November 1, 2019 4. Use the effective interest method of amortization Round answers to the nearest dollar Prepare Journal Entries to show the following: A Show the journal entry required to record the issue of the bonds B Show the journal entry required to record the interest payment on May 1, 2020 Calculate the amount to be recorded for interest expense on November 1, 2020 - (Hint Show calcuate separate from Toumal entry show it below)

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