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In: AccountingOn 3/1/16, Lawrence Company sold 6% bonds having a maturityvalue of 300,000 at a price...On 3/1/16, Lawrence Company sold 6% bonds having a maturityvalue of 300,000 at a price which provides the bondholders with a8% yield. The bonds are dated 3/1/21 with interest payablesemiannually on 3/1 and 9/1 of each year. The bonds are callable at101 any time after 1/1/17.a. Prepare the amortization table and all journal entriesrequired in 2016.b. On 6/1/18, Lawrence called the bond and retired them. Prepareall journal entries required in 2018.
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