On January 1, InnoSolutions, Inc. issued $100,000...
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On January 1, InnoSolutions, Inc. issued $100,000 in bonds at face value. The bonds have a stated interest rate of 7 percent. The bonds mature in ten years and pay interest once per year on December 31. Required: 1. Prepare the journal entry to record the bond issuance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2. Prepare the journal entry to record the interest payment on December 31. Assume no interest was accrued earlier in the: year, (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the interest payment on December 31 . Noter Enter debits before credits. 3. Assume the bonds were retired immediately after the first interest payment of a quoted price of 10t. Prepare the journal entry to record the early retirement of the bonds. (ff no-entry is required for a transaction/ovent, select "No journal entry required" in the first account field.) Journal entry worksheet Record the early retirement of the bonds. Nobe: Entar debes before, credes
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