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Wookie Company issues 7 % , five - year bonds, on January 1 of this year, with a par value of $ 1 0 1
Wookie Company issues fiveyear bonds, on January of this year, with a par value of $ and semiannual interest payments.
Semiannual PeriodEnd Unamortized Premium Carrying Value
January issuance $ $
June first payment
December second payment
Use the above straightline bond amortization table and prepare journal entries for the following.
a The issuance of bonds on January
b The first interest payment on June
c The second interest payment on December
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