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Present entries to record issuance of bonds

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Problem a: On June 30, 2011, Arlington Company issued $1,500,000 of 10-year, 8% bonds, dated June 30, for $1,540,000. Present entries to record the following transactions:

(1)Issuance of bonds.

(2)Payment of first semiannual interest on December 31, 2011.

(3)Amortization by straight-line method of bond premium on December 31, 2011.

Reference no: EM132778290

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