Required: a. Journalize the entries to record the following transactions. 1. Sale of the bonds...
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Accounting
Required: a. Journalize the entries to record the following transactions. 1. Sale of the bonds on January 1. 2. First semiannual interest payment on June 30, including amortization of discount. 3. Second semiannual interest payment on December 31, including amortization of discount. b. Compute the amount of the bond interest expense for the first year. c. Explain why the company was able to issue the bonds for only $30,985,360 rather than for the face amount of $35,000,000
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