Accounting Assignment | College Homework Help

On January 1, 2019, Lagune & Sons issued 9% bonds dated January 1, 2019, with a face amount of $200,000. The bonds mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semiannually on June 30 and December 31. Lagune’s fiscal year is the calendar year.College Homework Help

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1. Calculate the issue price of the bond. Show the calculation.

2. Prepare an amortization schedule for the first year of the bond.

3. Prepare the necessary entries from the issuance of the bond on January 1 through December 31, 2019. Get Accounting Homework Help Today

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