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Prepare the borrower journal entries on March

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Question - On March 1, 2015, five-year bonds are sold for $508,026 that have a face value of $500,000 and an interest rate of 10%. Interest is paid semi-annually on March 1 and September 1. Using the straight-line amortization method, prepare the borrower's journal entries on: March 1, 2015; September 1, 2015; December 31, 2015; and March 1, 2016.

Reference no: EM132542343

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