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HelloPuppy Company was authorized to issue $1,000,000 worth of 8%, 10 year semiannual bonds with interest payments are due on June 30th and December 31st
HelloPuppy Company was authorized to issue $1,000,000 worth of 8%, 10 year semiannual bonds with interest payments are due on June 30th and December 31st . They sold the bonds on January 1, 2019, when the market rate was the same as the face rate The bonds were called at 103 on December 31, 2022. Record the following journal entries: (a) Sale of the bond issue on January 1, 2019 (b) Interest payment on June 30, 2019 (c) Redemption of the bonds on December 31, 2022 at 103 (assume the interest payment has already been made)
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