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Clark Company issued $90,000 of 10 -year, 5% bonds payable on January 1,2024 . Clark...

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Accounting

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Clark Company issued $90,000 of 10 -year, 5% bonds payable on January 1,2024 . Clark Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements Requirement 1. Journalize Clark Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from any joumal entries.) Journalize the issuance of the bond payable at face value. Requirements 1. Journalize Clark Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. 2. Journalize Clark Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at 94. Explanations are not required 3. Journalize Clark Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at 107 . Explanations are not required. 4. Which bond price results in the most interest expense for Clark Company? Explain in detail

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