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Prepare journal entries to record issuance of the bonds

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Reference no: EM13508273

On January 1, Neuer Company issued $500,000, 10%, 10-year bonds at par.

Interest is payable semiannually on July 1 and January 1.

Instructions:

Prepare journal entries to record the following.
a. The issuance of the bonds.
b. The payment of interest on July 1, assuming that interest was not accrued on June 30.
c. The accrual of interest on December 31.

Reference no: EM13508273

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