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pls answer will leave like 6. A company paid $500,000 for 12% bonds with a par value of $500,000. The bonds pay 6% interest semiannually
pls answer will leave like
6. A company paid $500,000 for 12% bonds with a par value of $500,000. The bonds pay 6% interest semiannually on September 1 and March 1. The company intends to hold the bonds until they mature. Prepare the journal entries for the following dates and transactions related to this bond acquisition. (1) Bonds purchased on September 1, 2009. (2) Year-end adjusting entry, December 31, 2009. (3) Receipt of semiannual interest March 1, 2010. (4) Redemption of the bonds at maturity on August 31, 2019. 7. On April 1 of the current year, a company paid $150,000 to purchase 7%,10-year bonds that had a par value of $150,000 and paid interest semiannually on October 1 and April 1. The company intends to hold the bonds until they mature. Prepare the journal entry to record the receipt of the semiannual interest payment on April 1 of the following year Step by Step Solution
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