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On January 1, 2023, Liu Corporation paid $247,001 to acquire bonds of Singh Investment Corp...

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Accounting

On January 1, 2023, Liu Corporation paid $247,001 to acquire bonds of Singh Investment Corp with a par value of $245,000. The annual contract rate on the bonds is 6.0% and interest is paid semiannually on June 30 and December 31. The bonds mature after three years. The market rate of interest was 5.7%. Liu Corporation intends to hold the bonds until maturity. Required: 1. Prepare an amortization schedule for the investment showing only 2023. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Enter all the amounts as positive values.) 2-a. Prepare Lius entries to record the purchase of the bonds. (Do not round intermediate calculations. Round your final answers

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