Use the following data to answer the next 3 questions: On January 1, 2023, Systems...
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Accounting
Use the following data to answer the next 3 questions: On January 1, 2023, Systems Corporation issues $60,000 of 7%, 15-year bonds, with interest payable semiannually on June 30 and December 31 each year. The market interest rate is 8%. The issue price of the bonds is $54,812.
1- What journal entry should the company make to record the bond issue on January 1,2023?
2- What journal entry should the company make to record the first semiannual interest payment on June 30, 2023? (Rounds amounts to the nearest whole dollar.)
3 - What will be the carrying value of the bonds at December 31, 2037, the maturity date of the bonds?
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