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Question 30 (9 points) When market interest rates were 5%, three companies issued bonds on January 1st year 1. Each company issued the bonds with
Question 30 (9 points) When market interest rates were 5%, three companies issued bonds on January 1st year 1. Each company issued the bonds with a face value of $200,000 that pay interest annually on December 31. . GH Inc. sold its bonds at 100 with a coupon rate of 5%, BADM1060 Ltd. sold its bonds at 94 with a coupon rate of 3%, iloveaccounting.com sold its bonds at 108 with a coupon rate of 7%. Required: 1. Record the issue of the bonds by each company. 2. Record any entries required on Dec. 31, each firm's year end, regarding interest on these bonds for each company. 3. What is the Carrying Value or Net Book Value of each company's Bonds Payable on Dec. 31st, year 1 for each company
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