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Posted on May 27, 2024

On January 1, 2024, White Water issues $590,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year.

On January 1, 2024, White Water issues $590,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Required: Assuming the bonds issue for $590,000, record the bond issue on January 1, 2024, and the first two interest payments on December 31, 2024, to December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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