1. On January 1, 2020, Turkey Corp issued bonds at face value in the total...
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1. On January 1, 2020, Turkey Corp issued bonds at face value in the total amount of $150,000. The bonds pay interest at a 14% interest rate. The bonds pay semiannual interest payments on June 30 and December 31 of each year. The bonds mature in 5 years. In the space below, provide the following 3 journal entries: The January 1, 2020 entry for the issuance of the bonds, the June 30, 2020 entry for the first interest payment, and the January 1, 2025 payment to pay off the Bonds at maturity (assume the interest is already paid, journalize only the bond payable payment). (9 points) Accounts Date 1/1/20 DR CR 6/30/20 1/1/25
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