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Please highlight the answers thank you Corporation issued $ 600,000 of 7 %, 12 -year bonds payable on March 31, 2019. The market interest rate
Please highlight the answers thank you
Corporation issued $ 600,000 of 7 %, 12 -year bonds payable on March 31, 2019. The market interest rate at the date of issuance was 10 %, and the bonds pay interest semiannually. The Corporation's year-end is March 31.
3. Record issuance of the bonds on March 31, 2019 , and payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2019. (Record debits first, then credits. Exclude explanations from any journal entries.)
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