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Draft the journal entries to record the issue of the bond

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Question - Marin Ltd. issued a $850,000, 10-year bond at par on January 1, 2020. The bond paid 8% interest each January 1 and July 1. The company's year-end was December 31.

Draft the journal entries to record the issue of the bond, the payment of interest on July 1, and the December 31 accrual entry.

Reference no: EM132796180

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