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. On January 1,2018 , White Water issues $470,000 of 7% bonds, due in 10 years, with interest payable annualiy on December 31 each year.
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On January 1,2018 , White Water issues $470,000 of 7% bonds, due in 10 years, with interest payable annualiy on December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $504,590. 2. Record the bond issue on January 1, 2018, and the first two interest payments on December 31, 2018, and December 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Journal entry worksheet Record the second annual interest payment. Note: Enter debits before credits Step by Step Solution
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