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What is the correct entry for recording the june

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Reference no: EM132489307

Question 1: On January 1, $500,000 of 8%, 10-year bonds were sold for $530,000. The bonds require semiannual interest payments on June 30 and December 31. What's the correct entry for recording the June 30 interest payment on the bonds?

30-Jun Premium on bond $1,500

Interest expense $18,500

Cash $20,000

Reference no: EM132489307

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