Question: I need the answer as soon as possiple please (5 Points) On January 1, Year 1, Gordon Corporation issued bonds with a face value of

I need the answer as soon as possiple please

(5 Points) On January 1, Year 1, Gordon Corporation issued bonds with a face value of $70,000, a stated rate of interest of 6% and a 5-year term to maturity. The bonds were issued at 98. Interest is payable in cash on December 31 each year. Gordon uses the straight-line method to amortize bond discounts and premiums. 3. Below detail the journal entry to reflect the interest expense incurred on December 31, Year 1. Bonus: 2 Points What is the carrying value of the bond on December 31, Year 1? Ans

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