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Prepare the journal entry to record the issuance of the bond

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Question - On June 1, 2019, when the market rate was 11%, Lada Inc issued $150,000, 11% bonds at par plus accrued interest. The interest on these bonds is payable semiannually on January 1 and July 1. Prepare the journal entry to record the issuance of the bond and the first semiannual interest payment on July 1, 2019.

Reference no: EM132522253

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