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Please show all work and explanation. I leave thumbs up! On April 1, 2017, B&D Co. issued 4-year bonds with a par value of $1,000,000.
Please show all work and explanation. I leave thumbs up!
On April 1, 2017, B&D Co. issued 4-year bonds with a par value of $1,000,000. 9% interest is paid every March 31st and the going market rate for comparable bonds was 6.5%. B&D records interest using the straight-line method. Part A. Prepare a bond amortization schedule. Part B. Prepare the necessary journal entry (or entries) for the bonds on 12/31/2017 when B&D prepares financial statements. Part C. Prepare all necessary journal entries for 3/31/2021Step by Step Solution
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