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How much interest does the company pay

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Question - On January 1, Renewable Energy issues bonds that have a $58,000 par value, mature in ten years, and pay 19% interest semiannually on June 30 and December 31.

Required -

1. Prepare the journal entry for issuance assuming the bonds are issued at (a) 99 and (b) 103½.

2. How much interest does the company pay (in cash) to its bondholders every six months if the bonds are sold at par?

Reference no: EM132891674

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