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Problem
Matchbox Company issues 6%, four-year bonds, on December 31, 2011, with a par value of $100,000 and semiannual interest payments.
Semiannual Period-End
Unamortized Discount
Carrying Value
(0)
12/31/2011
6,733
$ 93,267
(1)
6/30/2012
5,891
94,109
(2)
12/31/2012
5,049
94,951
Use the above straight-line bond amortization table and prepare journal entries for the following.
(a) The issuance of bonds on December 31, 2011. (Omit the "tiny_mce_markerquot; sign in your response.)
(b) The first interest payment on June 30, 2012. (Omit the "tiny_mce_markerquot; sign in your response.)
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