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Prepare journal entries and show all your calculations. Gia Company had the following bond issue: Date of issue/sale: April 1, 20-A Face value: $200,000 Sale
Prepare journal entries and show all your calculations.
Gia Company had the following bond issue: Date of issue/sale: April 1, 20-A Face value: $200,000 Sale price of bonds: 99 Life of bonds: 10 years Stated rate: 6% a year payable semiannually on September 30 and March 31 Required: Prepare the following general journal entries. a. The issuance of the bonds on April 1, 20-A. b. The interest payment and premium amortization for first six months. c. The redemption of $50,000 worth of bonds on April 1, 20-E, at 102. If an amount box does not require an entry, leave it blankStep by Step Solution
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