Business, 25.04.2020 02:56 alcantar28eduin

Clem Company issued $820,000, 10-year, 5 percent bonds on January 1, 2015. The bonds sold for $751,000. Interest is payable annually on December 31. Using effective-interest amortization, prepare journal entries to record (a) the bond issuance on January 1, 2015, and (b) the payment of interest on December 31, 2015. The market interest rate on the bonds is 6 percen

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Clem Company issued $820,000, 10-year, 5 percent bonds on January 1, 2015. The bonds sold for $751,0...