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Record the bond issue and first interest payment on June

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Problem - A company issues 9%, 9-year bonds with a face amount of $80,000 for $85,064 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Record the bond issue and first interest payment on June 30, 2021.

Reference no: EM132927082

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