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Question 5 When market interest rates were 6%, three companies issued bonds on January 1, 2021. Each company has a December 31 year end and

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Question 5 When market interest rates were 6%, three companies issued bonds on January 1, 2021. Each company has a December 31 year end and each company issued bonds with a face value of $100,000 that pay interest annually on December 31. Bonita Limited sold its bonds at 100 and offered a coupon interest rate of 6%, while Coronado Corp. sold its bonds at 93 and offered a coupon interest rate of 4% and Sunland Inc. sold its bonds at 105 and offered a 8% coupon interest rate. Record the issue of the bonds by each company on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debilentries before credit entries.) Date Account Titles and Explanation Debit Credit Bonita Umited Jan. 1 Coronado Corp. Jan. 1 Sunland Inc Jan. 1 Prepare the entry that each company would record for the payment of interest on December 31, 2021. Round answers to o decimal places, as $275. Credit account titles are automatically indented when the amount is entered. Do not indent mom Listo debit entries before credit entries) Date Account Titles and Explanation Debit Credit Bonita Limited Dec 31 Coronado Corp Dec. 33 Sunland Dec 31 Determine the balance in each company's Bonds Payable account on December 31, 2021, Balance in Bonds Payable account Bonita Limited Coronado Corp. $ Sunland Inc. $ List of Accounts

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