The market interest rate for this type of bond is 10 record, Accounting Basics

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The market interest rate for this type of bond is 10 record

Problem

The Franklin Company issued bonds with a $100,000 face value, a 10-year term, and an 8% semi-annual coupon. The market interest rate for this type of bond is 10%. Record the journal entry when the bonds are issued, and for the first two coupon payments.

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Accounting Basics: The market interest rate for this type of bond is 10 record

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