Solution-Prepare journal entry to record bonds issuance

Prepare journal entry to record bonds issuance

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Reference no: EM132487346

Question - On January 1, a company issues $300,000 face value, 8%, 5 year bonds that pay semiannually on June 30 and December 31. On the issue date, the market rate of interest is 6% so there bonds were issued for $325,590.

Part A - Prepare journal entry to record bonds issuance.

Part B - Prepare journal entry to record first year of interest payment.

Reference no: EM132487346

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Prepare journal entry to record bonds issuance

Reference no: EM132487346

Reference no: EM132487346

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