On January 1,2024 , White Water issues $580,000 of 8% bonds, due in 15 years,...
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On January 1,2024 , White Water issues $580,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $633,337. If the market interest rate increases to 9% on December 31, 2026, it will cost $537,963 to retire the bonds. Record the retirement of he bonds on December 31, 2026. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in he first account field. Round your final answers to the nearest whole dollar.) Journal entry worksheet
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