Solved: The payment of interest on july 1 assuming that interest, Accounting Basics

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The payment of interest on july 1 assuming that interest

On January 1, Neuer Company issued $500,000, 10%, 10-year bonds at face value.
Interest is payable semiannually on July 1 and January 1.

Instructions

Present journal entries to record the following.

(a) The issuance of the bonds.

(b) The payment of interest on July 1, assuming that interest was not accrued on June 30.

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Accounting Basics: The payment of interest on july 1 assuming that interest

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Accounting Basics: The payment of interest on july 1 assuming that interest

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