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Record the journal entries of issuance of bonds

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Question - Rowe Corporation authorized $600,000 of 8% (cash interest payable semiannually) 10-year bonds. The bonds were dated January 1, 2020. Interest dates are June 30 and December 31. Assuming that the bonds were sold on March 1, 2020, at face value, record the following journal entries.

a. March 1, 2020: Issuance of bonds.

b. June 30, 2020: Interest payment.

Reference no: EM132702420

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