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Suppose Laurentian Bank issued a eight-year $15,000 bond with a stated interest rate of 5.50% when the market interest rate was 52 %. following transactions,
Suppose Laurentian Bank issued a eight-year $15,000 bond with a stated interest rate of 5.50% when the market interest rate was 52 %. following transactions, including an explanation for each entry: a. Issuance of the bond payable on April 1, 2020 b. Accrual of interest expense on September 30, 2020 (rounded to the nearest dollar) c. Payment of cash interest on October 1, 2020 d. Payment of the bonds at maturity (give the date) 2. Journalize the issuance of the bond payable on April 1, 2020. (Record debits first, then credits. Enter explanations on the last line Jour Entry 2020 Accounts and explanations Debit Credit Apr Choose from any list or enter any number in the input fields and then continue to the next question with a stated interest rate of 5.50% wwer two market interest rate won tunne produto accounting year of cameridian Bank einhi on Baptember 30 Jamalize the unded to the more dow) 2000 (Record debits is the credits. En explanations on the last line) Dehit
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