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Prepare entries for the issue of the bonds

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Question - On April 1, 2018, a corporation issued $3,000,000, 8%, 10-year bonds at95. The bonds pay interest each June 31 and December 31 and the corporation uses the straight-line method to amortize premium or discount. Prepare entries for the issue of the bonds and for the first interest payment.

Reference no: EM132478142

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