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  3. polk incorporated issued $200,000 of 13% bonds on

Polk Incorporated issued $200,000 of 13% bonds on July 1,2019, for $206,801.60. The bonds were...

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Accounting

Polk Incorporated issued $200,000 of 13% bonds on July 1,2019, for $206,801.60. The bonds were dated January 1,2019, pay interest on each June 30
and December 31, are due December 31,2020, and were issued to yield 12%. Polk uses the effective interest method of amortization.
Required:
Prepare the journal entries to record the issue of the bonds on July 1,2019, and the interest payments on December 31,2019, and June 30,
In addition, prepare a bond interest expense and premium amortization schedule for the bonds through June 30,2020.
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