On June 30, 2017, ABC Co. Issued $ 6,000,000, 6%, 4-year bonds. The sold to yield an effective interest rate of 8%. Interest is paid semiannually on June 30 and December 31. The company uses the effective interest method of amortization. Required: For ABC Co. answer the following independent requirements STONERE a Prepare the necessary journal entry on June 30, 2017

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Q: n June 30, 2017, ABC Co. Issued $ 6,000,000, 6%, 4-year bonds. The sold to yield an effective…

A: The present value of bonds is as follows: Resultant table:

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Q: Prepare journal entries for the following transactions.

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