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please help asap Rothchild Company issued $336,000 par value, 5-year, 3% bonds on June 1, 2022. The bonds are dated January 1, 2022, and pay
please help asap
Rothchild Company issued $336,000 par value, 5-year, 3% bonds on June 1, 2022. The bonds are dated January 1, 2022, and pay interest semiannually each June 30 and December 31 . The bonds are sold at par plus accrued interest because they are sold between interest dates. The company's fiscal year ends on December 31. Prepare the journal entries required to issue the bonds on June1, 2022, and record the first interest payment on June 30, 2022. (Record debits first, then credits. Exclude explanations from any. journal entries.) First, prepare the journal entry required to issue the bonds on June1, 2022. Now record the first interest payment on June 30,2022 . Interest PayableStep by Step Solution
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