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On 1/1/19, issued a bond with the following features: Maturity Value            $400,000 Maturity Date             1/1/2029...

On 1/1/19, issued a bond with the following features:

Maturity Value            $400,000 Maturity Date             1/1/2029 (in 10 years)

Stated Interest            5% Market Interest           4%

Interest Payments      Annually on 12/31     

  1. The selling price of the bond is (includes both principle and interest)
  2. The amortization table for the first 4 years:
  3. What is the initial journal entry on 1/1/19 for this Bond?  
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Answer #1

The answer hasa been presenetd in the supporting sheet. For detailed answer refer to the supporting sheet.

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