Question: On Jan. 1 , 2 0 2 5 , UMPI, Inc. issued $ 8 0 0 , 0 0 0 of 8 % bonds, due

On Jan. 1,2025, UMPI, Inc. issued $800,000 of 8% bonds, due in 5 years. The bonds pay interest semi-annually on July 1 and January 1. The bonds yield 6%. UMPI uses the effective-interest method. Prepare UMPI's journal entries for a thru c.
A. The January 1 issuance
B. The July 1 interest payment
C. The December 31 adjusting journal entry
D. Prepare the first 6 lines of the Schedule of Bond Discount/Premium Amortization
On Jan. 1 , 2 0 2 5 , UMPI, Inc. issued $ 8 0 0 ,

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