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please solve On January 1, 2022, Lily Corporation issued $2,150,000 face value, 6%,10-year bonds at $1,998,993. This price resulted in an effective-interest rate of 7%
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On January 1, 2022, Lily Corporation issued $2,150,000 face value, 6%,10-year bonds at $1,998,993. This price resulted in an effective-interest rate of 7% on the bonds. The bonds pay annual interest, each January 1 . Lily has a calendar year end. (a) Your answer is correct. Prepare the journal entry to record the issue of the bonds on January 1, 2022. (List all debit entries before credit entries. Credit account tities are automatically indented when the amount is entered. Do not indent manually.) Prepare an amortization table through December 31, 2025 (three interest periods) for this bond issue. (Round answers to the nearest whole dollar, eg, 5,275.) Prepare an amortization table through December 31,2025 (three interest periods) for this bond issue. (Round answers to the nearest whole dollar, eg. 5,275 Step by Step Solution
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