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Question IV {18 marks} Green Oak issued $900,000, 7%, 10-year bonds on December 31, 2021, for cash. The current market rate is 10%. The corporation

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Question IV {18 marks} Green Oak issued $900,000, 7%, 10-year bonds on December 31, 2021, for cash. The current market rate is 10%. The corporation uses the effective interest amortization method. Interest is payable semi-annually on June 30 and December 31. Required a. Calculate the bond price and prepare the entry at the issuance date b. Prepare an amortization schedule for the first five payment periods using the format shown below: Period Ending Cash Interest paid Period Interest Expense Discount Amortized Unamortized Discount Carrying Value 12/31/2021 6/30/2022 12/31/2022 6/30/2023 12/31/2023 6/30/2024 12/31/2024 6/30/2025 12/31/2025 c. Prepare the entries to pay an interest on June 30, 2023 December 31, 2023

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