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Emery trust Inc. issued $100,000, a 5 year bond on January 1, 2022 paying 4%...

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Accounting

Emery trust Inc. issued $100,000, a 5 year bond on January 1, 2022 paying 4% interest on a semi annual basis every January 1 and July 1.
using a financial Cal dealer prepare the first year journal entries for the bond issue and interest expense assuming that the company uses the effective interest method a market interest rate of 6% and has a year end of December 31, 2022

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