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please do all also, 1. record the issue of bonds on July 1 2. prepare an adjusting entry on December 31 to accrue the interest
please do all
also,
1. record the issue of bonds on July 1
2. prepare an adjusting entry on December 31 to accrue the interest on bonds
3. record the payment of interest on January 1, 2019
4. prove the issue proceeds of the bonds by July 1 2017 by calculating the present value of the bonds at the time
Problem 10-10A On July 1, 2017, Global Satellites Corporation issued $1,310,000 of 10-year, 6% bonds to yield a market interest rate of 5%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,412,108 lick here to view the factor table Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.) Bond Premium Amortization Unamortized Bond Carrying Interest Expense to be Semi-annual interest periods Interest to be paid Premium Amortization Premium Amount Recorded July 1/17 Jan. 1/18 July 1/18 Jan. 1/19 July 1/19 SHOW LIST OF ACCOUNTS Record the issue of the bonds on July 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round al
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