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A company issues 7%, 9-year bonds with a face amount of $90,000 for $84,301 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Journal entry worksheet Record the bond issue. Note: Enter debits before credits. General Journal Debit Credit Date January 0

Journal entry worksheet 2 Record the first interest payment on June 30, 2021. Note: Enter debits before credits. General Jour

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Answer #1
Date General Journal Debit Credit
1/1/2021 Cash 84,301
discount on bonds payable 5,699
bonds payable 90,000
30-Jun interest expense 3372
discount on bonds payable 222
cash 3150
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