TB EX Qu. 9-209 (Static) A company issues... A company issues 7%, 10-year bonds with a face amount of $80,000 for $74,564 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 8% Interest is paid semiannually on June 30 and December 31 Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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TB EX Qu. 9-209 (Static) A company issues...
A company issues 7%, 10-year bonds with a face amount of $80,000 for $74,564 on January 1, 2024. The market interest rate for
bonds of similar risk and maturity is 8%, Interest is paid semiannually on June 30 and December 31
Required:
1. & 2. Record the bond issue and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event,
select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the
nearest dollar amount.)
View transaction list
Journal entry worksheet
<
1
2
Record the bond issue.
Date
January 01, 2024
General Journal
Credit
>
Transcribed Image Text:TB EX Qu. 9-209 (Static) A company issues... A company issues 7%, 10-year bonds with a face amount of $80,000 for $74,564 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 8%, Interest is paid semiannually on June 30 and December 31 Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet < 1 2 Record the bond issue. Date January 01, 2024 General Journal Credit >
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