The journal entries required to issue bonds on February 1, 2018 and record the first interest payment on March 31. Given information: Number of bonds issued at a value of $600,000 Coupon rate is 5%. Bonds are dated January 1, 2018. Quarterly payment is to be made.

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Chapter 14, Problem 14.9E

To determine

To prepare: The journal entries required to issue bonds on February 1, 2018 and record the first interest payment on March 31.

Given information:

Number of bonds issued at a value of $600,000

Coupon rate is 5%.

Bonds are dated January 1, 2018.

Quarterly payment is to be made.

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