Prepare journal entries for the payment of interest

Reference no: EM131880746

Question: 1. Aloha Cruise issued $170,000 in 6%, 10-year bonds (payable on December 31, 2028) on December 31, 2018, for $156,776. Interest is paid on June 30 and December 31. The market rate of interest is 8%.

Required: Prepare journal entries for the payment of interest on June 30 and December 31, 2018.

Reference no: EM131880746

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