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How to prepare all journal entries that sunrise corporation

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Reference no: EM132574499

On January 1, 2018, Sunrise Corporation issued $4,000,000 face value, 8% coupon, 5-year bonds dated January 1, 2018, for $3,800,000 (market interest rate of 9.3%). The bonds pay annual interest on January 1.

Instructions

Question 1: Prepare all journal entries that Sunrise Corporation would make related to this bond issue through January 1, 2019, using effective interest rate method. Be sure to indicate the date on which the entries would be made.

Reference no: EM132574499

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