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Record the bond issue and billabong first interest payments

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Question - Billabong Inc. needed financing to build a new plant. On June 30th, 2012, Billabong issued $1,000,000 of 10-year bonds with a 10% coupon rate (payments due on December 31st and June 30th). The effective interest rate (i.e. yield) was 8%. Record the bond issue and Billabong's first interest payments.

Reference no: EM133118357

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