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If the market interest rate is 9%, the bonds will issue at $1,997,583. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)

If the market interest rate is 9%, the bonds will issue at $1,997,583. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2024, the company issues $2,200,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. If the market interest rate is 9%, the bonds will issue at $1,997,583. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)
Transcribed Image Text:Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2024, the company issues $2,200,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. If the market interest rate is 9%, the bonds will issue at $1,997,583. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)
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