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Prob on January 1, 2020, Barrymore Ltd. issued $200,000, 8%, 10-year bonds, when the market tem interest rate was 10%. Therefore, the bonds were trading
Prob on January 1, 2020, Barrymore Ltd. issued $200,000, 8%, 10-year bonds, when the market tem interest rate was 10%. Therefore, the bonds were trading at $175,076, Interest is payable semi- annually on July 1 and January 1. The company has a calendar year end. Instructions a) Record the issue of the bonds. b) Record the first interest payment on July 1, 2020. Round to nearest dollar
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