On January 1, 2024, Splash City issues $500,000 of 9% bonds, due in 20 years,...
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On January 1, 2024, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $457,102. 2. How will the bond issuance on January 1,2024 , affect the financial statements? 3. How will the first two semiannual interest payments on June 30,2024 , and December 31,2024 , affect the financial statements? Complete this question by entering your answers in the tabs below. How will the bond issuance on January 1,2024 , affect the financal statements? Note: Amounts to be deducted should be indicated by a minus sign. On January 1, 2024, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will is 5u at $457,102. 2. How will the bond issuance on January 1,2024 , affect the financial statements? 3. How will the first two semiannual interest payments on June 30, 2024, and December 31, 2024, affect the financial statements? Complete this question by entering your answers in the tabs below. How will the first payment on June 30, 2024, affect the financai statements? Note: Amounts to be deducted should be indicated by a minus sign On January 1,2024, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $457,102. 2. How will the bond issuance on January 1, 2024, affect the financial statements? 3. How will the first two semiannual interest payments on June 30,2024 , and December 31,2024 , affect the financial statements? Complete this question by entering your answers in the tabs below. How will the second payment on December 31 2024, affect the financial statements? Note: Amounts to be deducted should be indicated by a minus sign
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