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Recording Entries for Bonds Sold Between Interest Dates On May 1, 2020, Setup Inc, sold an issue of 5%, $600 bonds dated January 1,
Recording Entries for Bonds Sold Between Interest Dates On May 1, 2020, Setup Inc, sold an issue of 5%, $600 bonds dated January 1, 2020, to yield SM. The bonds pay interes every june 30 and December 31, and mature December 31, 2024 a. Provide journal entries to be made by Setup Inc. at each of the following dates 1. May 1, 2020, bond issuance 2. June 30, 2020, first interest payment Note List multiple debits or credits (when applicables in alphabetical order. Note: Round your answer to the nearest whole dollar May 1 Account Name 2020 b indicate the amount of interest expense to be recorded in the income statement of Setup Inc. for the six months ended June 30 2020 Please answer all parts of the question
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