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Record the journal entry to record the bonds payable

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Question - On January 1, a company issued 10%, five-year bonds with a par value of $500,000. The market rate when the bonds were issued was 12%. The company received $450,000 cash for the bonds. Record the journal entry to record the bonds payable then using the straight-line method, record the first semiannual interest payment due June 30?

Reference no: EM131960249

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