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Record the entry to interest on december

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Question - On January 1, 2021, a company issued bonds for $17.9 million at 8% dated January 1, 2021, with a face value of $19.9 million. For bonds of similar risk and maturity, the market yield is 10%, interest is paid semiannually on June 30and December 31.

Required -

1. Record the entry to interest on June 30, 2021, using the effective interest method.

2. Record the entry to interest on December 31, 2021 using the effective interest method.

Reference no: EM132697684

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