=+PR 14-4B Entries for bonds payable and installment note transactions objs. 3, 4

✔ 3. $12,031,573 654 Chapter 14 Long-Term Liabilities: Bonds and Notes On July 1, 2010, Linux Corporation, a wholesaler of electronics equipment, issued

$45,000,000 of 10-year, 10% bonds at an effective interest rate of 14%, receiving cash of

$35,465,423. Interest on the bonds is payable semiannually on December 31 and June