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On January 1, Innovative Solutions. Incorporated, Issued $150,000 in bonds at face value. The bonds have a stated interest rate of 6 percent. The bonds

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On January 1, Innovative Solutions. Incorporated, Issued $150,000 in bonds at face value. The bonds have a stated interest rate of 6 percent. The bonds mature in 10 years and pay interest once per year on December 31 Required: 1, 2 \& 3. Prepare the required journal entries to record the bond issuance, interest payment on December 31, early retirement of the bonds: Assume the bonds were retired immediately after the first Interest payment at a guored price of 101 . (If no entry is required for o trensaction/event, select "No Journal Entry Required" In the first account field.) Journal entry worksheet 2.3 Record the issuance of bonds of $150,000 at face value. Note: Enter debits betore credity? Journal entry worksheet Record the interest payment on December 31. Notel Enter debits before credits. Journal entry worksheet 1 Record the retirement of the bonds at a quoted price of 101 . Notel Enter debits before credits

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