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Brussels Enterprises issues bonds at par dated January 1, 2021, that have a $3,600,000 par value, mature in four years, and pay 7% interest semiannually
Brussels Enterprises issues bonds at par dated January 1, 2021, that have a $3,600,000 par value, mature in four years, and pay 7% interest semiannually on June 30 and December 31.
- Record the entry for the issuance of bonds for cash on January 1.
- Record the entry for the first semiannual interest payment and the second semiannual interest payment.
- Record the entry for the maturity of the bonds on December 31, 2024 (assume semiannual interest is already recorded).
- Record the payment of the bonds at maturity. Assume semiannual interest is already recorded.
Note: Enter debits before credits.
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