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Question 2 Bond Issuance On May 1 , 2 0 2 3 , Leo Inc. ( Leo ) issued $ 2 0 , 0 0
Question Bond Issuance
On May Leo Inc. Leo issued $ in bonds with a stated rate of and a maturity date
of April Interest will be paid semiannually on April and October Leo's yearend is
December The market rate of interest for bonds of this type was on May The bond's
issuance price was $ Leo uses the effective interest rate method of amortization for any
discount or premium.
Required:
Journalize May
Cash
Discount on Bond Payable
Bond Payable
Journalize October
What is this bond Balance Sheet presentation
Make a discount amortization table for the bond for &
Journalize December
Journalize April
On May the sold the bond at please journalize the transaction.
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