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Required information The following information applies to the questions displayed below] Serotta Corporation is planning to issue bonds with a face value of $350,000 and

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Required information The following information applies to the questions displayed below] Serotta Corporation is planning to issue bonds with a face value of $350,000 and a coupon rate of 12 percent. The bonds mature in two years and pay interest quarterly every March 31 , June 30 , September 30 , and December 31 . All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 8 percent. (FV of \$1. PV of \$1. FVA of S1, and PVA of S1) Note: Use oppropriate factor(s) from the tobles provided. 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30 , and December 31 of this year. Note: If no entry is required for a tronsaction/event, select "No journal entry required" in the first occount field. Round your final inswers to nearest whole dollor amount. Journal entry worksheet Record the interest payment on March 31. Note: Enter debits before credits. Journal entry worksheet Record the interest payment on June 30. Note: Enter debits before credits. Journal entry worksheet Record the interest payment on September 30. Note: Enter debits before credits. Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits

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