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Prepare journal entries to record first two interest payment

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Question - Legacy issues $590,000 of 7.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $542,310 when the market rate is 10%. Prepare the journal entries to record the first two interest payments.

Reference no: EM132842042

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