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Really Amazing Vacations Ltd.issues $1,000,000 of ten-year,10% bonds dated January 1,2012.Interest is payable on January 1 and July 1 each year.The proceeds realized from the issue were the $1,048,801 sales price less the $80,000 fee charged by Really Amazing's investment bank.Really Amazing's year-end is December 31.
Requirement:
Prepare journal entries:
a.The issuance of the bonds.
b.Payment of interest and related amortization on July 1,2012.
c.Accrual of interest and related amortization on December 31,2012.
Childhood
The period in a person's life from birth to adolescence, characterized by growth, development, and learning.
Total Absorption
A state of complete mental focus or engagement in an activity to the exclusion of other thoughts or stimuli.
Restrictive Parents
Describes parenting styles that impose strict rules and expectations, often with limited freedom or autonomy for the child.
Predict Behavior
The process of using observed information, patterns, or trends to anticipate an individual's or group's future actions or reactions.
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