On January 1,2024, R & B Inc. issues $500,000 of 10-year, 4% bonds to yield...
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Accounting
On January R & B Inc. issues $ of year, bonds to yield a market interest rate of This resulted in an issue price of $ Interest is paid semiannually on January and July
a Prepare an amortization schedule for the first four interest periods. Round all calculations to the nearest dollar.
b Assuming that R&B has a December yearend, prepare the entry to record the accrual of interest and amortization of any bond discount or premium on December
c Prepare the entry to record the payment of interest on January
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