(3) Kamal Corporation issued a 3- year bonds at face value of $200,000 on Jan. 1,...

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(3) Kamal Corporation issued a 3- year bonds at face value of $200,000 on Jan. 1, 2020, a stated interest rate of 8%, and market rate of 8%. Prepare Kamal's journal entries for 2020 and 2022. Answer: Date Cash Paid 8% Interest Expense 8% Carrying Amount 1/1/20 31/12/20 31/12/21 31/12/22 (3) Kamal Corporation issued a 3- year bonds at face value of $200,000 on Jan. 1, 2020, a stated interest rate of 8%, and market rate of 8%. Prepare Kamal's journal entries for 2020 and 2022. Answer: Date Cash Paid 8% Interest Expense 8% Carrying Amount 1/1/20 31/12/20 31/12/21 31/12/22

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