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Record the issuance of the bonds and the first payment

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Reference no: EM132942266

Problem 1: Bellevue Marketin corp. issued $600,000 of %6, four-year bonds for $579,224 on July 1, 2020. the day the bond were dated. The market interest rate on this date was %7. Interest is paid quarterly beginning October 1, 2020. Bellevue uses the effective interest method to amortize bond discount and premiums. Record the issuance of the bonds and the first payment of interest.

Reference no: EM132942266

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