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Question Two (35 points) On I Jan. 2017, Apex Company sold 12% bonds having a maturity value of $500,000 for $ 537,908 which provides the

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Question Two (35 points) On I" Jan. 2017, Apex Company sold 12% bonds having a maturity value of $500,000 for $ 537,908 which provides the bondholders with a 10% yield. The bonds are dated January 1". 2017, and mature January /" 2022, with interest payable December 31 of each year. Instructions a) Prepare the journal entry at the date of the bond issuance. (10marks) b) Prepare a schedule of interest expense and bond amortization for 2017 - 2019. (15marks) c) Prepare the journal entry to record the interest payment and the amortization for 2018. (10marks)

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