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Teal Co. sells \(\$ 365,000\) of \(12\%\) bonds on June 1,2020. The bonds pay interest...

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Accounting

Teal Co. sells \(\$ 365,000\) of \(12\%\) bonds on June 1,2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1,2024. The bonds yield \(8\%\). On October 1,2021, Teal buys back \(\$ 116,800\) worth of bonds for \(\$ 123,800\)(includes accrued interest). Give entries through December 1,2022. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g.38,548.)

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