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Jerry's Co issued a 5-year, 12% bond of $10,000,000. Interest payments are made annually. It...

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Accounting

Jerry's Co issued a 5-year, 12% bond of $10,000,000. Interest payments are made annually. It was issued to yield 11%. Calculate: 1. The issue price of the bond. 2. Prepare the amortization table for the full life of the bond and the journal entries for the issuance of the bond, the first and final interest payment, and the retirement of the bond

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