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Problem 3 A company issues $180,000 of 11%, 3-year bond dated January 1 that pay interest semiannually. They are issued at $184,566 with a market

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Problem 3 A company issues $180,000 of 11%, 3-year bond dated January 1 that pay interest semiannually. They are issued at $184,566 with a market rate of 10% at the issue date. Prepare the January 1 journal entry to record the bonds' issuance Jan. 1 Determine the total bond interest to be recognized over the bonds' life Six payments of Less premium Total bond interest expense

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