Exercise 10.9 Accounting for Bonds Issued at a Premium: Issuance, Interest Payments, and Retirement (LO10-5,...
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Exercise 10.9 Accounting for Bonds Issued at a Premium: Issuance, Interest Payments, and Retirement (LO10-5, L010-6) Xonic Corporation issued $8.2 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonic's fiscal year ends on December 31 a-c. Record the issuance of the bonds and entries after the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars.)
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