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Exercise 9-17(Algo) Record bonds issued at a discount and related annual interest (LO9-5) Skip...

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Accounting

Exercise 9-17(Algo) Record bonds issued at a discount and related annual interest (LO9-5)
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[The following information applies to the questions displayed below.]
On January 1,2024, White Water issues $450,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year.
Assuming the market interest rate on the issue date is 7%, the bonds will issue at $402,327.
Exercise 9-17(Algo) Part 2
2. Record the bond issue on January 1,2024, and the first two interest payments on December 31,2024, and December 31,2025.(If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.)1.Record the bond issue. 2.Record the first annual interest payment. 3. Record the second annual interest payment.

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