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Use the following information to answer questions 54-59: Pizza Pier issues 7%, 10-year bonds with...

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Use the following information to answer questions 54-59: Pizza Pier issues 7%, 10-year bonds with a face amount of $80,000 on January 1, 2018. Interest is paid semiannually on June 30 and December 31. Round amounts to the nearest whole dollar. 54. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 8%, and they were issued for $74,564 on January 1, 2018. 55. Record the first interest payment on June 30, 2018 If the market interest rate for bonds of similar risk and maturity is 8%, and they were issued for $74,564 on January 1, 2018. 56. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 7%. 57. Record the first interest payment assuming the market interest rate for bonds of similar risk and maturity is 7%. 58. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 6%, and they were issued for $85,951 on January 1, 2018. 59. Record the first interest payment on June 30, 2018 if the market interest rate for bonds of similar risk and maturity is 6%, and they were issued for $85,951 on January 1, 2018

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