Discuss the market interest rate on the issue date

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Reference no: EM131521764

Question: On January 1, 2012, White Water issues $500,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year.

Required: Assuming the market interest rate on the issue date is 6%, the bonds will issue at $500,000. Record the bond issue on January 1, 2012, and the first two interest payments on December 31, 2012, and December 31, 2013

Reference no: EM131521764

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