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Record the first two semiannual interest payments on june

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On January 1, 2021, Splash City issues $430,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.

Assuming the market interest rate on the issue date is 9%, the bonds will issue at $394,979.

Problem 1: 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: EM132927955

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