Chapter $9$ Homework

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On January $1,2024,$ White Water issues $$600,000$ of $7\%$ bonds, due in $10$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Assuming the market interest rate on the issue date is $8\%,$ the bonds will issue at $$559,229.$

$2.$ Record the bond issue on January $1,2024,$ and the first two semiannual interest payments on June $30,2024,$ and December $31,2024.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.$)$

Journal entry worksheet

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Record the bond issue.

Mc

Graw

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