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  3. 3 journal entries to record. 1. record the bond i

3 journal entries to record. 1. Record the bond issue 2. Record the...

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Accounting

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3 journal entries to record.

1. Record the bond issue

2. Record the first semiannual interest payment

3. Record the second semiannual interest payment

On January 1, 2021, Splash City issues $450,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $419,423. Exercise 9-8A Part 2 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet

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