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Would you be able to solve this and a journal entry for january 1 st as well? Required information [The following information applies to the
Would you be able to solve this and a journal entry for january st as well?
Required information [The following information applies to the questions displayed below.] Claire Corporation is planning to issue bonds with a face value of $170,000 and a coupon rate of 10 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. Claire uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 12 percent.(FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables 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 transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount. Answer is not complete. General Journal No 1 2 3 4 Date March 31 June 30 September 30 December 31 Debit Credit Interest expense Cash Bond discount Interest expense Cash Bond discount Interest expense Cash Bond discount Interest expense Cash Bond discount
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