Solved: Semiannual interest payments are made on june 30 and, Accounting Basics

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Semiannual interest payments are made on june 30 and

Question - On January 1, 2012, ABC Company issued $165,000 of 6-year bonds with a stated rate of 12%. The market rate at time of issue was 11%, so the bonds were issued with a premium and sold for $172,110. ABC Company uses the effective-interest method to amortize bond premium. Semiannual interest payments are made on June 30 and December 31 of each year. What is the correct journal entry to record the first interest payment?

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Accounting Basics: Semiannual interest payments are made on june 30 and

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Accounting Basics: Semiannual interest payments are made on june 30 and

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