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Record the bond issue on january

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On January 1, 2021, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year.

Question 1: Assuming the market interest rate on the issue date is 8%, the bonds will issue at $549,482. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021.

 

Reference no: EM132921036

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