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On January 1, 2021, a company issued $400,000 of 10-year, 12% bonds at 100, with interest payable on July 1 and January 1. The company
On January 1, 2021, a company issued $400,000 of 10-year, 12% bonds at 100, with interest payable on July 1 and January 1. The company issues financial statements on June 30 and December 31 (Hint: bond interest must be accrued on June 30 and December 31, before being paid on July 1 and January 1). This problem requires 5-journal entries). You may omit reasons for the journal entries. Skip a row between journal entries.
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