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pls show all of the step on paper Tagawa Corporation issued $500,000 of 10 year, 5% bonds on January 1,2022 , at a price to
pls show all of the step on paper Tagawa Corporation issued $500,000 of 10 year, 5% bonds on January 1,2022 , at a price to yield a market interest rate of 6%. Interest is payable semi-annually on July 1 and January 1 . Tagawa has a December 31 year end. Required: (a) Calculate the bond's issue price on January 1. (b) Using the effective interest rate method, prepare all the necessary journal entries for 2022. (c) Would the entry be the same for (b) be the same if the company uses the straight line method to account for the interest ? Show calculation. (d) Assume that on December 31, 2026, the company, Tagawa redeemed 20% of the bonds outstanding at 105 . Prepare the journal entry to record the early redemption of the bond
pls show all of the step on paper
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