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Prepare the january entries for snuggly bunny ltd

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Reference no: EM132971331

On January 1,2019, Snuggly Bunny Ltd issued $6,000,000 of 4%, fifteen year bonds priced to yield 5%. Interest is payable on June 30 and December 31. Snuggly repurchased the outstanding bonds on July 1,2019,2021 at which time the market rate of interest is 3.5%

Problem 1: Prepare the following entries:

  1. January 2019
  2. July 1, 2021

Reference no: EM132971331

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