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Trevor Company borrowed money by issuing $6,000,000 of 7% bonds payable at 1022 on July 1, 2018. The bonds are five-year bonds and pay interest

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Trevor Company borrowed money by issuing $6,000,000 of 7% bonds payable at 1022 on July 1, 2018. The bonds are five-year bonds and pay interest each January 1 and July 1 Read the requirements 1. How much cash did Trevor receive when * Requirements Trevor received $ when 1. How much cash did Trevor receive when it issued the bonds payable? Journalize this transaction 2. How much must Trevor pay back at maturity? When is the maturity date? 3. How much cash interest will Trevor pay each six months? 4. How much interest expense will Trevor report each six months? Use the straight-line amortization method. Journalize the entries for the accrual of interest and the amortization of premium on December 31, 2018, and payment of interest on January 1, 2019. Print Done

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