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PROBLEM 2: Emerson Inc. issued a $500,000 bond on 12/31/19; the bonds were sold at a price of 96. The stated interest rate on the

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PROBLEM 2: Emerson Inc. issued a $500,000 bond on 12/31/19; the bonds were sold at a price of 96. The stated interest rate on the bond was 5 % , with semiannual interest payable each June 30 and December 31. The bond payable will mature in 5 years on 12/31/24. Emerson uses the straight line method to amortize the discount or premium on its bonds. Part A: Show the original journal entry to issue the Bonds Payable Cunens (an on Puyc4ic 0 8 pts oo co. (6 4809000 >Part B: Show the journal entry (and detailed computations) at June 30, 2020 to record the first semiannual payment of interest, and amortization of any discount or premium. 8 pts intrest h80g000 hrest pagable >Part C: Show entry at maturity date (12/31/24) to pay off the bond, assuming the last interest payment had already been made. 4 pts >Part D: Prepare a 'T' Account for the Discount (or Premium) on Bonds Payable. You must 5 pts present items starting with December 31, 2019, then June 30, 2020, and December 31, 2020, and finally the ending balance at December 31, 2020

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