Question: Bonds Problem (18 points) A company issued $800,000 (face value) of 8%, 8-year semi-annual bonds at 95 on January 2, 2017. The bonds are

Bonds Problem (18 points) A company issued $800,000 (face value) of 8%,

Bonds Problem (18 points) A company issued $800,000 (face value) of 8%, 8-year semi-annual bonds at 95 on January 2, 2017. The bonds are callable at 104. The company uses the straight-line method of amortization for Any premium or discount. On December 31, 2020 the company calls 40% of the bonds. Select the Correct answer for each of the following questions: Required: 1. Compute the balance in the premium or discount on the call date. 2. Prepare the journal entry to record the call of the bonds. Solution Space for Bond Problem UB

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