On January 1, 2024, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest
Question:
On January 1, 2024, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year.
Required:
Assuming the bonds issue for $500,000, record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024.
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January 1 2024 Cash Bonds Payable Issue bonds at ...View the full answer
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