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Downing Company issues $1,000,000, 10%, 10-year bonds on January 1, 2020. The bonds pay interest...

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Accounting

Downing Company issues $1,000,000, 10%, 10-year bonds on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 8%. a) Calculate the issue price of the bonds in dollars b) Calculate the issue price of the bonds as a percent c) Make the journal entry to record the sale of the bond d) Using the straight-line method, make the journal entry to record the interest payments in

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