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Business, 25.01.2020 00:31 rilee3344

Mcgee company issued $400,000 of 8%, 20-year bonds on january 1, 2014, . interest is payable semiannually on july 1 and january 1. mcgee company uses the effective interest method of amortization for bond premium or discount. assume an effective yield of 6% in pricing the bond. instructionsi. calculate the price of the bondii. prepare the first 4 periods of amortization scheduleiii. prepare the journal entries to record the following. (round to the nearest dollar)a. the issuance of the bonds. b. the payment of interest and the related amortization on july 1, 2014c. the accrual of interest and the related amortization on december 31, 2014

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Mcgee company issued $400,000 of 8%, 20-year bonds on january 1, 2014, . interest is payable semiann...
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