Question: On January 1 , 2 0 2 4 , Nora Enterprises issued 1 2 % bonds dated January 1 , 2 0 2 4 ,

On January 1,2024, Nora Enterprises issued 12% bonds dated January 1,2024, with a face amount of $20 million. The bonds mature in 2033(10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31
-Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Q.Prepare the journal entry to record interest on June 30,2024, and December 31,2024,using the 'straight line method'.
(Round your intermediate calculations ot the nearest whole dollar).

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