Question: show how each step of the math for the problem please please explain how to do the problem thank you Cornerstone Exercise 9-32 (Algorithmic) Bonds

show how each step of the math for the problem please

please explain how to do the problem thank you

Cornerstone Exercise 9-32 (Algorithmic) Bonds issued at a Discount (Effective Interest) Sicily Corporation issued $1,250,000 in 9% bonds (payable on December 31, 2029) on January 1, 2020, for $1,137,500. Interest is paid on June 30 and December 31. The market rate of interest is 13%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec 31, 2020 Interest Expense Discount on Bonds Payable

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