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Journalize the issuance of bonds payable

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Reference no: EM132561968

Question - Shakey Company issued $500,000 of 6% contractual rate, 5-year bonds at 98, with interest paid annually on December 31. Assuming straight-line amortization.

a. Prepare the amortization table for the first 2 months.

b. Journalize the issuance of bonds payable.

c. Journalize the interest payment for Year 1 on Dec 31, 2020.

d. Journalize the redemption of bonds payable at 101.5 on December 31 (after interest payment for year 2).

Reference no: EM132561968

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