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TB 14-90 Tulilo Corp Tulilo Corp issues $750,000, 10%, 15-year bonds. The current market rate...

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Accounting

TB 14-90 Tulilo Corp

Tulilo Corp issues $750,000, 10%, 15-year bonds. The current market rate is 10%. The journal entry to record the semiannual interest payment, assuming the effective interest method is used, is

Multiple Choice

  • Cash 12,500
    Bond Interest Expense 12,500
  • Bond Interest Expense 25,000
    Cash 25,000
  • Bond Interest Expense 13,750
    Bond Payable 13,750
  • Bond Interest Expense 13,750
    Cash 13,750
  • Bond Interest Expense 25,000
    Bond Payable 25,000

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