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Prepare the entries to record the issuance of the bonds

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Question - On January 1, 2015, Hogan Enterprises issued 8%, 20-year bonds with a face amount of $3,000,000 at 101. Interest is payable semiannually on June 30 and December 31.

Instructions - Prepare the entries to record the issuance of the bonds and the first semiannual interest payment assuming that the company uses straight-line amortization.

Reference no: EM132531133

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