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On April 30, year 1, a company issued $600,000 worth of 4% bonds. The term of the bonds is 10 years, with interest payable semi-annually
On April 30, year 1, a company issued $600,000 worth of 4% bonds. The term of the bonds is 10 years, with interest payable semi-annually on October 31st and April 30th. The year-end of the company is November 30. Record the journal entries related to interest for year 1, and year 2. Note that interest must be accrued at the end of each year.
Do not enter dollar signs or commas in the input boxes.
Round your answers to the nearest whole dollar.
For transactions with more than one debit, enter the debit accounts in alphabetical order.
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