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Shakey Company issued $500,000 of 6% contractual rate, 5-year bonds at 98, with interest paid annually on December 31. Assuming straight-line amortization. a. Prepare the
Shakey Company issued $500,000 of 6% contractual rate, 5-year bonds at 98, with interest paid annually on December 31. Assuming straight-line amortization.
a. Prepare the amortization table for the first 2 months
b. Journalize the issuance of bonds payable
c. Journalize the interest payment for Year 1 on Dec 31, 2020
d. Journalize the redemption of bonds payable at 101.5 on December 31(after interest payment for year 2)
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