Journalizing bond issuance and interest payments

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Reference no: EM131820082

Question: Journalizing bond issuance and interest payments On June 30, Doherty Limited issues 6%, 20-year bonds payable with a face value of $120,000. The bonds are issued at 90 and pay interest on June 30 and December 31.

Requirements: 1. Journalize the issuance of the bonds on June 30.

2. Journalize the semiannual interest payment and amortization of the bond discount on December 31.

Reference no: EM131820082

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