Business, 24.02.2020 21:15, savannahvargas512

Payable each December 31), 10-year bonds on January 1, 2020. The bonds are callable at any point after 2024 at 103. The bonds sold on January 1, 2020, at 98. Straight-line amortization of bond discounts and premiums is used. Due to a drop in interest rates, Dillon decided to call in half of the bonds and issue a new series of bonds in the amount of $90,000 (5% cash interest annually, five-year term) on January 1, 2025, at par. Required a. Provide the entry for issuance of the 6% bonds on January 1, 2020. b. Provide the entry for issuance of the 5% bonds on January 1, 2025. c. Provide the entry for redemption of the 6% bonds on January 1, 2025

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Payable each December 31), 10-year bonds on January 1, 2020. The bonds are callable at any point aft...