Question: please need fast and short answer of this question please 10 On February 28, 20X6, Mackerel Corp issues 0%. 20-year bonds payable with a face
10 On February 28, 20X6, Mackerel Corp issues 0%. 20-year bonds payable with a face value of $1,800,000 The bonds pay interest on February 28 and August 31 Mackerel Corp amortizes bonds by the effective weest method Assuming the market rate is 5% joumaline the following bond transactions Requirements: (1) Issuance of the bonds on February 28, 2036 at the price of $2,025,925 (2) C) Payment of interest and amortization of the bonds on August 31, 2026 (2) (3) Accrual of interest and amortization of the bonds on December 31, 20X6, the year-end (2) (4) Payment of interest and amortization of the bonds on February 28, 20X7 (2) Report interest payable and bonds payable as they would appear on the Mackerel Com balance sheet at December 31, 20X6 (2)
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