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Mitsudome Corporation issued 8%, $590,000, 10 year bonds for $561,000 on June 30, 2021. Debt issue costs were $3,400, interest paid semiannually on December 31
Mitsudome Corporation issued 8%, $590,000, 10 year bonds for $561,000 on June 30, 2021. Debt issue costs were $3,400, interest paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2022), the corporation exercised its call privilege and retired the bonds for $565,000. The corporation uses the straight-line method both to determine interest experime and to amortire premium or discount Required: 1. to 4. Prepare the journal entry to record the issuance of the bonds, the payment of interest and amortization of premium or discount on December 31, 2021, and the call of the bonds. Of no entry is required for a transaction/event, select "No journal entry required lo the first account field.) View transaction ist Journal entry worksheet
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