Question: Problem 2 Issue Bonds at Discount Baker School District sell $200,000, 6%, 10 Yr bonds on Jan 1. Interest payment dates are Jan. 1 and

Problem 2 Issue Bonds at Discount Baker School District sell $200,000,

Problem 2 Issue Bonds at Discount Baker School District sell $200,000, 6%, 10 Yr bonds on Jan 1. Interest payment dates are Jan. 1 and July 1. The bonds are sold for $185,788. Prepare journal entries for the issuer. First use the the effective-rate method. Market rate is 7%, a. Sale on Jan 1 b. July 1 entry Jan 1 entry. d. July 1 entry B Adjustment for fiscal year ending on Oct. 1 c. UD

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