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On January 1, Auctions Online issued $300,000, 9%, 10-year bonds to lenders at the contract...

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Accounting

On January 1, Auctions Online issued $300,000, 9%, 10-year bonds to lenders at the contract rate. Interest is to be paid semiannually on July 1 and January 1. Journalize the following entries.

a. Issued the bonds

b. Paid first semiannual interest payment

c. Retired the bonds at maturity

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