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Prepare the journal entry to record their issuance

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Question - On January 1, 2019 Maplewood Group issued $20 million of 6% bonds. Interest is payable semiannually on June 30th and December 31. The bonds were issued at an effective annual rate of 5% and mature in 10 years.

a. Compute this issuance price for these bonds and prepare the journal entry to record their issuance.

b. Amortization table that covers the first four coupon payments made related to these bonds.

Reference no: EM132546711

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