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Buffalo Co. is building a new hockey arena at a cost of $2,620,000. It received...

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Accounting

Buffalo Co. is building a new hockey arena at a cost of $2,620,000. It received a downpayment of $450,000 from local businesses to (b)
Prepare a bond amortization schedule up to and including January 1,2028, using the effective-interest method. (Round present
value factor to 5 decimal places, e.g.1.24356 and final answers to 0 decimal places, e.g.38,548.)
List of Accounts
support the project, and now needs to borrow $2,170,000 to complete the project. It therefore decides to issue
$2,170,000 of 11.0%,10-year bonds. These bonds were issued on January 1,2024, and pay interest annually on each January 1. The
bonds yield 10%.
Click here to view factor table.
(a)
Y Your answer is correct.
Prepare the journal entry to record the issuance of the bonds on January 1,2024.(Round present value factor calculations to 5
decimal places, e.g.1.25124 and the final answer to 0 decimal places, e.g.58,971. If no entry is required, select "No Entry" for the account
titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.
List all debit entries before credit entries.)
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