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Need help with entry The following information applies to the questions displayed below] On January 1, 2021, Universe of Fun issues $760,000, 7% bonds that
Need help with entry
The following information applies to the questions displayed below] On January 1, 2021, Universe of Fun issues $760,000, 7% bonds that mature in 10 years. The market Interest rate for bands of similar risk and maturity is 8%, and the bonds issue for $708,357. Interest is paid semiannually on June 30 and December 31. 2. & 3. Record the issuance of the bonds on January 1, the interest payments on June 30, and December 31, 2021. (If no journal entry is required for a particular transaction, select "No Journal Entry Required in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheetStep by Step Solution
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