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  3. 4. in jan 1,2024 xyz issued a 5-year $1m bond at 6

4. In Jan 1,2024 XYZ issued a 5-Year $1M bond at 6% coupon rate with...

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Accounting

4. In Jan 1,2024 XYZ issued a 5-Year $1M bond at 6% coupon rate with interest payable semi-annually for $1,089,826. The current market rate was 4%. SHOW all calculations and prepare ALL Journal Entries for the bond in 2024.(Note: the formula to calculate PV is PV = FV /(1+1%)^n)(18 marks)

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