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  3. on october 1, 2019 mk corporation issued 5%, 10-ye

On October 1, 2019 MK Corporation Issued 5%, 10-year bonds with a face value of...

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Accounting

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On October 1, 2019 MK Corporation Issued 5%, 10-year bonds with a face value of $1,000,000 at 108 to yield 8%. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on an effective interest basis. The entry to record the issuance of the bonds would include a credit of to Bonds Payable $1,080,000.A to Bonds Payable $1,000,000.BO to Interest Payable $25,000.CO to Bonds Payable $80,000 DO

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