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Make entries for the issuance of the bonds

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Reference no: EM132502146

Xonic Corporation issued $8.3 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonic's fiscal year ends on December 31.

Question 1 : Make entries for the following:

  1. issuance of the bonds
  2. the bond interest and amortize bond premium
  3. the final interest payment and amortize bond premium
  4. the retirement of the bonds

Reference no: EM132502146

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