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please help solve the wrong numbers on January 1 of this year, Victor Corporation sold bonds with a face value of $1,580,000 and a coupon
please help solve the wrong numbers
on January 1 of this year, Victor Corporation sold bonds with a face value of $1,580,000 and a coupon rate or 8 percent. The bonds nature in four years and pay Interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent (EVS1 PV O SI EVA 31, and PVA 051) que the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transactiorvevent, select "No joumal inteynesiuired" in the first account field) NO Credit Date January 01 Debat 690,897 General Jouma Cash Premium on bonds payable Bonds payable 110,897 1,580.000 3. What bonds payable amount will Victor report on its June 30 balance sheet? VICTOR CORPORATION Balance Sheet (Partial) At June 30 Long-term liabilities Bonds payable $ 1,580,000 Premium on bonds payable 97,035 S 1,577,035 *Rod text indicates no response was expected in a cell or a formula based Galculation incorrecte deducted Step by Step Solution
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