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Part F (10 marks) Spectre Corporation issued $850,000 in 8%, 10-year bonds (payable on December 31, 2032) on December 31, 2022, for $926,500. Interest
Part F (10 marks) Spectre Corporation issued $850,000 in 8%, 10-year bonds (payable on December 31, 2032) on December 31, 2022, for $926,500. Interest is paid on June 30 and December 31. The market rate of interest is 6%. Required: Using the effective interest method, prepare the journal entries for the issuance of the bonds on December 31, 2022 as well as the required journal entries on June 30, 2023 and December 31, 2023. Date 2022. 12/31 Account Debit Credit
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