Journalize the payment of semiannual interest and, Finance Basics

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Journalize the payment of semiannual interest and

Question: Journalizing bond transactions Wilkes Mutual Insurance Company issued a $70,000, 11%, 10-year bond payable at 111 on January 1, 2016.

Requirements: 1. Journalize the issuance of the bond payable on January 1, 2016.

2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2016.

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Finance Basics: Journalize the payment of semiannual interest and

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Finance Basics: Journalize the payment of semiannual interest and

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