Question: On 1 / 1 / 2 3 , P issued $ 6 0 0 , 0 0 0 of 9 % bonds for $ 5

On 1/1/23, P issued $600,000 of 9% bonds for $562,613, a 10% effective interest rate. Interest ispayable January 1 of each year. On 12/31/23, S purchased $450,000 of the outstanding P bondsfor $454,500 plus accrued interest. The 12/31/23 elimination entry will include a credit to interco discount for 

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