Question: On January 1 2 0 2 4 , The Ryder Company issued $ 4 8 0 , 0 0 0 ( face - value )
On January The Ryder Company issued $face value of eight year bonds at $ to yield an effective annual interest rate of The stated face annual interest rate is and interest will be paid semiannually on June and December The Ryder Company uses the effective interest methos to amortize bond discounts or premiums. Required: a prepared journal enteries to record the issuance of the bonds on b prepare a bond premium amortization schedule for the first years of the bond life using the effective interest method. c Prepare journal entries required on June and December d On January the company redeemed all $face value of the bonds at $ Prepare the journal enteries to record the bond redemption.
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