Question: Please show your work Ava, Inc., issued 9% bonds, dated January 1, with a face amount of $146476 on January 1,2020 for at issue price

Please show your work Ava, Inc., issued 9% bonds, dated January 1, Please show your work

Ava, Inc., issued 9% bonds, dated January 1, with a face amount of $146476 on January 1,2020 for at issue price of 105.9 The bonds mature in 10 years. For bonds of similar risk and maturity the market yield is 7%. Interest is paid annually on December 31. When recording the payment of interest on December 31,2020 , what is the amount is recorded to Premium on Bonds Payable? Also indicate whether the amount would be debited D or credited C to Premium on bonds payable by indicating a D or C right next to your amount. (Do not leave a space). If your answer is 1,000 debit, answer 10000

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