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Prepare journal entries to record the issuance of these bond

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Question - On 2010 September 30, Domingo's Construction Company issued USD 120,000 face value of 12 percent, 10-year bonds dated 2010 August 31, at 100, plus accrued interest. Interest is paid semiannually on February 28 and Aug 31. Domingo's accounting year ends on December 31. Prepare journal entries to record the issuance of these bond, the accrual of the interest at the year-end, and the payment of the first interest coupon.

Reference no: EM132034720

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