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Please help me to solve my question On January 1, 2020, Metlock Inc. issued $380,000 of 6-year, 4% bonds to yield a market interest rate

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On January 1, 2020, Metlock Inc. issued $380,000 of 6-year, 4% bonds to yield a market interest rate of 5%. Interest is paid every quarter on January 1, April 1, July 1, and October 1. Metlock has a calendar year end. After recording the December 31, 2021 accrual for quarterly interest, and making the payment on January 1, 2022, all the bonds were redeemed at 101. (a) Your answer is correct. Use Excel or a financial calculator to determine how much the company received from the sale of these bonds. The company received 360407 Prepare the entry to record the redemption of the bonds on January 1, 2022. (Credit account titles the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 TInterest Payable 3800 Bonds Payable 769 Cash 4569

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