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In: AccountingBonds Payable: On January 1, 2014 – ABC issued $800,000.00 of20-year, 11% bonds for $739,814.81,...Bonds Payable: On January 1, 2014 – ABC issued $800,000.00 of20-year, 11% bonds for $739,814.81, yielding a market (yield) rateof 12%. Interest is payable semiannually on June 30th and December31.a. Confirm the bond issue price.b. Indicate the financial statement effects using the templatefor(1) bond issuance(2) semiannual interest payable and discount amortization onJune 30, 2014(3) semiannual interest payment and discount amortization onDecember 31, 2014.
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