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Required information Problem 9-5A (Algo) Record bond issue and related interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024,
Required information Problem 9-5A (Algo) Record bond issue and related interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $530,000 of 7% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Problem 9-5A (Algo) Part 1 Required: . If the market interest rate is 7%, the bonds will issue at $530,000. Record the bond issue on January 1,2024 , and the first wo semiannual interest payments on June 30, 2024, and December 31,2024 . (If no entry is required for a particular ransaction/event, select "No Journal Entry Required" in the first account field.) 2. If the market interest rate is 8%, the bonds will issue at $477,549. Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30,2024 , and December 31,2024 . (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) 3. If the market interest rate is 6%, the bonds will issue at $591,254. Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)
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