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Record the bond issue and first interest payment on june

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Question - A company issues 9%, 11-year bonds with a face amount of $70,000 for $75,058 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semi annually on June 30 and December 31.

Required - Record the bond issue and first interest payment on June 30, 2021.

Reference no: EM133159690

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