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Question 4 Titania Co. sells c600,000 of 8% bonds on January 1, 2018. The bonds pay interest semiannually on July 1 and January 1. The
Question 4 Titania Co. sells c600,000 of 8% bonds on January 1, 2018. The bonds pay interest semiannually on July 1 and January 1. The due date of the bonds is January 1, 2021. The bonds were sold to yield 6%. The bonds are callable at 104. On July 1,2019 Titania calls 45% of the bonds Instruction (Round to the nearest dollar.) 1. Prepare the amortization schedules 2. Prepare the required journal entries at July 1,2019 Quest. Contract price of $2,400,000. Estimated. Information relating to the costs and billings for this contract is as follows: Costs incurred during the year Estimated costs to complete 2019 700,000 1,300,000 2020 1,100,000 800,000 2021 750,000 0 Instructions 1. Using the percentage-of-completion method, compute the gross profit or loss to be recognized each year. 2- Using the cost recovery method, compute the gross profit or loss to be recognized each year
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