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Record the journal entries relating to the bonds on january

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On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $630,000 and a coupon interest rate of 6%, with interest payable semi-annually. Assume that the company has a December 31 year end and records adjusting entries annually.

Question 1: Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 5%.

Question 2: Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 6%.

Question 3: Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 7%.

Reference no: EM132538872

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