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In: AccountingOn January 1, 2016, Emily Tax Services issued $200,000, 9%,four-year bonds. Interest is paid semiannually...On January 1, 2016, Emily Tax Services issued $200,000, 9%,four-year bonds. Interest is paid semiannually on June 30 andDecember 31. The bonds were issued when the market rate was 8%.Required:5.Find the selling price of the Bonds6.Prepare an amortization schedule that determines interest atthe effective interest rate.7.Prepare an amortization schedule by the straight-linemethod.8.Prepare the journal entries to record interest expense on June30, 2018, by each of the two approaches.Please provide details formula.
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