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On January 1, 2016, Technicians Credit Union issued 7%, 20 year bonds payable with the face value of $100,000. The bonds pay interest semiannually, on
On January 1, 2016, Technicians Credit Union issued 7%, 20 year bonds payable with the face value of $100,000. The bonds pay interest semiannually, on June 30 and December 31. The issue price of the bonds was 108. Journalize the following transactions...
Issuance of bonds of January 1, 2016
Payment of interest and amortization on June 30, 2016
Retirement of bonds on December 31, 2035
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