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Record the interest payment on july and january

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Reference no: EM132739983

On January 1, 2018, Pinehill Ltd. issued $500,000, 6%, 5-year bonds, when the market interest rate was 8% for $ 459,446. Interest is payable semi-annually on July 1 and January 1. The company has a calendar year end.

Instructions

Problem (A) Record the issue of the bonds.

Problem (B) Record the interest payment on July 1, 2018 and the interest payment on January 1, 2019. Round to nearest dollar.

Reference no: EM132739983

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