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can you help me to explain why we got the 24000 ? lustration: On March 1, Year 1, Taft Corporation issues 10- year bonds, dated

can you help me to explain why we got the 24000 ? image text in transcribed
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lustration: On March 1, Year 1, Taft Corporation issues 10- year bonds, dated January 1, Year 1, with a par value of $800,000. These bonds have an annual interest rate of 6 percent, payable semiannually on January 1 and July 1. Taft records the bond issuance at par plus accrued interest as follows. Cash 808,000 Bonds Payable Interest Expense (800,000 x 06 x 2/12) 800,000 8,000 LO 1 6 7 8 On July 1, Year 1, four months after the date of purchase, Taft pays the purchaser six months' interest and makes the following entry Interest Expense 24,000 Cash 24,000 LO 1 5 7 8 9

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