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On February 1, Olsen Products, Inc. issued at par $25 million of 9%, 10-year bonds payable. Interest is payable semiannually each February 1 and August

On February 1, Olsen Products, Inc. issued at par $25 million of 9%, 10-year bonds payable. Interest is payable semiannually each February 1 and August 1.

Bond Question 6: Prepare the journal entry necessary to record the semiannual payment of interest to bondholders on February 1, 2019.

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