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A company issued 8%, 15-year bonds with a par value of $550,000 that pay interest annually. The market rate on the date of issuance
A company issued 8%, 15-year bonds with a par value of $550,000 that pay interest annually. The market rate on the date of issuance was 8%. The journal entry to record each annual interest payment is:
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
