Journalize the payment of semiannual interest

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Reference no: EM131820121

Question: Journalizing bond transactions Wilkes Mutual Insurance Company issued a $70,000, 11%, 10-year bond payable at 111 on January 1, 2016.

Requirements: 1. Journalize the issuance of the bond payable on January 1, 2016.

2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2016.

Reference no: EM131820121

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