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Journalize the issuance of the bonds on june

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Reference no: EM132614618

Question - On June 30, Daughtry Limited issues 6%, 20-year bonds payable with a face value of $110,000. The bonds are issued at 90 and pay interest on June 30 and December 31. (Assume bonds payable are amortized using the straight-line amortization method.)

Requirements -

1. Journalize the issuance of the bonds on June 30.

2. Journalize the semiannual interest payment and amortization of the bond discount on December 31.

Reference no: EM132614618

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