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plzz help Question (5) Barney Corporation received authorization on December 31, Year 1, to issue $2,500,000 of 6%, 10-year bonds. The interest payment dates are
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Question (5) Barney Corporation received authorization on December 31, Year 1, to issue $2,500,000 of 6%, 10-year bonds. The interest payment dates are June 30 and December 31. All the bonds were issued at a price of 98 on December 31, Year 1. (a) Prepare the journal entry at December 31, Year 1 to record the issuance of the bonds. (b) Prepare the journal entry at June 30, Year 2 to record the first semiannual interest payment on the bonds. (c) Prepare the journal entry at December 31, Year 11 to record the retirement of the bondsStep by Step Solution
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