Question: How do you record and aolve for these? Please show step by step work/explanation if possible. Thanks! BOND PROBLEM $1,000,000 bond issue, 4% payable every

How do you record and aolve for these? Please show step by step work/explanation if possible. Thanks!

BOND PROBLEM $1,000,000 bond issue, 4% payable every six months Due in 20 years For each of the bond prices below, prepare journal entries to (1) issue the bonds and (2) record the first interest payment. Show how the bonds are disclosed on the Balance Sheet after the first interest payment. Then prepare the journal entry to pay off the bonds at maturity. a) 100 b) 103 c) 96

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