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Prepare the financial statements presentation each year

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Reference no: EM132817107

International Company issued a four year, 9%, P 500,000 bonds dated February 1 on February 1, 2022.These bonds yield rate was 10%. Interest is paid semiannually on July 31 and January 31. International Company financial year ends on December 31.

Question 1. Prepare the amortization schedule

Question 2. Prepare the journal entries up to maturity.

Question 3. Prepare the financial statements presentation each year up to maturity in terms of

a. Balance Sheet

b. Income Statement

c. Cash Flow

Reference no: EM132817107

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