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Calculate the amount received for the bond

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BlueLtd. issued a $1,164,000, 10-year bond dated January 1, 2020. The bond was sold to yield 12% effective interest. The bond paid 10% interest on January 1 and July 1 each year. The company's year-end was December 31, and Blue followed IFRS.

Problem 1: Calculate the amount received for the bond, and any discount or premium on the bond. Also, what are the journal entries for above transactions.

Reference no: EM132808458

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