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Dear Chegg members, Please provide solution for following question? Exercise 1: On Jan. 1, 2018,...

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Question

Accounting

Dear Chegg members,

Please provide solution for following question?

Exercise 1:

On Jan. 1, 2018, Ahlia Corporation issued 250,000 Bonds payable for 4-Years at face value of $100 per bond. The stated interest rate is 16%, and paid quarterly on 30/03; 30/06; 30/09 and 31/12

Instructions:

  1. Compute the issue price of bonds, if the market interest rate 12%?
  2. Prepare the table of amortization?
  3. Prepare the journal entry for the first year and last year?

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