Prepare the issuers journal entry to record first semiannual


On January 1, a company issued 10-­?year, 10% bonds payable with a par value of $500,000, and received $442,647 in cash proceeds. The market rate of interest at the date of issuance was 12%. The bonds pay interest semiannually on July 1 and January 1. The issuer uses the straight-­?line method for amortization. Prepare the issuer's journal entry to record the first semiannual interest payment on July 1.

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Accounting Basics: Prepare the issuers journal entry to record first semiannual
Reference No:- TGS0718030

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