Bonds Payable (Calculator set on END ) Johnson Corp issued $10,000,000 of bonds on January 1, 2020 The bonds had a coupon rate of 5 , and were issued at an effective interest rate of 6 The bonds pay interest semiannually on June 30 th , and December 31 st , and mature in 20 years Compute the sales price for this bond issue and prepare the journal entry to record their issuance Prepare an amortization table using the effective interest method of amortization that covers the first 3 semi annual payments on this bond issue Prepare the journal entry associated with the first interest payment on these bonds

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Question: Bonds Payable (Calculator set on END ). Johnson Corp. issued $10,000,000 of bonds on January 1, 2020. The bonds had a coupon rate of 5%,

Bonds Payable (Calculator set on END). Johnson Corp. issued $10,000,000 of bonds on January 1, 2020. The bonds had a coupon rate of 5%, and were issued at an effective interest rate of 6%. The bonds pay interest semiannually on June 30^th, and December 31^st, and mature in 20 years.

Compute the sales price for this bond issue and prepare the journal entry to record their issuance.
Prepare an amortization table using the effective interest method of amortization that covers the first 3 semi-annual payments on this bond issue.
Prepare the journal entry associated with the first interest payment on these bonds.

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