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QUESTION 8 1. On January 15, 2020, XYZ Corp issued fifteen-year bonds with a face value of $500,000 and a stated interest rate of 124.

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QUESTION 8 1. On January 15, 2020, XYZ Corp issued fifteen-year bonds with a face value of $500,000 and a stated interest rate of 124. payable semi-mally on June 30 and December 31. The bond was sold to yield 10%. a. Determine the issue price of the bond on January 1, 2020 and make the journal entry to record the sale. b. Prepare the amortization table for 2020 and 2021 (Please upload in the work folder) C. Make the entry to buy back the bond on December 31, 2021 at the different prices below: a. 5580,000 b. $340,000

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