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Prepare the journal entries for recording the transaction

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Reference no: EM132832496

Question - On January 1, 2020 Barbara Company issued $ 4,000,000, 10.5%, 10 year bonds, interest payable annually, every January 1, bonds yield 10%.

Required -

a. Prepare journal entries to record the bonds issuance on January 1 2020.

b. Prepare bond amortization schedule January 1, 2020 - January 1, 2024.

c. If on July 1, 2023, Barbara Co withdrew half the bonds with price of $ 2,130,000 plus accrued interest, prepare the journal entries for recording the transaction.

Reference no: EM132832496

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