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Prepare the general journal entry to record the issuance

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Problem - Johanna Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1. Interest is payable each December 31.

(a) Prepare the general journal entry to record the issuance of the bonds on January 1.

(b) Prepare the general journal entry to record the first interest payment on December 31.

Reference no: EM133041852

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