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Record the issuance of the bonds

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Question - Corp issued $50,000 of 4%, 5 year bonds on 3/1/19. The bondsare dated 1/1/19 and pay interest semiannually on 7/1 and 1/1. The bonds were sold for $45,735 and on the date of issuance the marketrate of interest was 6%. Corp uses straight-line amortization of discounts and premiums.

Required -

Record the issuance of the bonds.

Record the first interest payment on 7/1/19.

Record the accrual of interest on 12/31/19.

Record the interest payment on 1/1/20.

Reference no: EM132593714

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