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On January 1, 2017, Brussels Enterprises issues bonds at par dated January 1, 2017, that have...

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Accounting

On January 1, 2017, Brussels Enterprises issues bonds at pardated January 1, 2017, that have a $2,600,000 par value, mature in4 years, and pay 9% interest semiannually on June 30 and December31.

1. Record the entry for the issuance of bonds forcash on January 1, 2017.
2. Record the entry for the first semiannualinterest payment on June 30, 2017.
3. Record the entry for the second semiannualinterest payment on December 31, 2017.
4. Record the entry for the maturity of the bondson December 31, 2020 (assume semiannual interest is alreadyrecorded).
  

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Answer Journal entries in the books of Brussels Enterprises When a company issues bonds it incurs longterm liability Interest Facevalue interest rate frequency of the    See Answer
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