Mabolm Compary borrowed money by issuing $2,500,000 of 7% bonds payable at 102.7 on July...
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Mabolm Compary borrowed money by issuing $2,500,000 of 7% bonds payable at 102.7 on July 1,2021 . The bonds are five-ycar bonds and pay interest each January 1 and July 1 . Read the requitements. 1. How much cash did Malcolm recelve when it issued the bonds payable? Journalize this transaction. When it insued the bonds payabla, Maicolm recelved Requirements 1. How much cash oid Maloolm receive when it issued the bonds payable? Journalice this transaction. 2. How much must Malcoim pry beck at maturity When is the maturity date? 3. How much cash intores will Malcom pay each sox months? 4. How much interest expense wil Malcoim report each oix montins? Use the straight the amertzation method. Soumalize the entries for the accrual of inerest and the anortization of premim on December 31, 2021, and payment of interest on Jaruary 1,2022
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