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QUESTION 4 - 20 POINTS. THIS PROBLEM REQUIRES NO USE OF THE PRESENT VALUE TABLES. Leonardo, Inc. on 1/1/22 issues $18,000,000 face value bonds with
QUESTION 4 - 20 POINTS. THIS PROBLEM REQUIRES NO USE OF THE PRESENT VALUE TABLES. Leonardo, Inc. on 1/1/22 issues $18,000,000 face value bonds with a stated interest rate of 6% and receives cash proceeds of $17,500,000. The term of the bond is 20 years and interest is paid semi- annually. Assume any premium or discount is amortized on a straight line basis. Part A: Prepare the journal entry to record the bond issuance. DATE ACCOUNT DEBIT CREDIT Part B: Prepare the journal entry to record interest expense for the six months ended June 30, 2025, CREDIT ACCOUNT DEBIT DATE an cheet presentation for Part C: Prepare the balance sheet presentation for Bonds Payable as of 12/31/23
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