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How much interest will boston pay

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Reference no: EM132463325

20 years, and pay 39% Interest semiannually on June 30 and December 31. The bonds are sold at par.

Par            2,250,000

Term                    30

Rate                     8%

Question 1. How much interest will Boston pay (in cash) to the bondholders every six months?

Par

(maturity)Value               Semiannual Rate                              Semiannual Cash Interest Payment

                              X

Question 2. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31.

No                     Date                       General Journal              Debit      Credit

1                          1-Jan

2                          30-Jun

                              31-Dec

Reference no: EM132463325

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