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Prepare the journal entry for maturity of bonds on december

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Co. issues four-year bonds with a $100,000 par value on January 1, 2019, at a price of $95,952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31.

Question 1: Prepare journal entries to record the first two interest payments.

Question 2: Prepare the journal entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded).

Reference no: EM132609486

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