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Dan Corporation wholesales repair products to equipment manufacturers. On April 1, 2014, Dan Corporation issued $7, 300,000 or 8-year, 12% bonds at a market (effective)
Dan Corporation wholesales repair products to equipment manufacturers. On April 1, 2014, Dan Corporation issued $7, 300,000 or 8-year, 12% bonds at a market (effective) interest rate of 11%, cash of $7, 681, 871. Interest is payable semiannually on April 1 and October 1. Journalize the entry to record the issuance of bonds on April l, 2014. For a compound transaction, if an amount box does not require an entry, leave it blank. Journalize the entry to record the first interest payment on October 1, 2014, and amortization of bond premium for six months, using the straight-line method. (Round to the nearest dollar.) For a compound transaction, if an amount box does not require an entry, leave it blank
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