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Business, 20.07.2021 03:20 7obadiah

A company issued 7%, 15-year bonds with a par value of $510,000 that pay interest semiannually. The market rate on the date of issuance was 7%. The journal entry to record each semiannual interest payment is: a) Debit Bond Interest Expense $17,850, credit Cash $17,850
b) Debit Bond Interest Expense $35,700: credit Cash $35,700
c) Debit Bond Interest Payable $34,000, credit Cash $34,000.

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A company issued 7%, 15-year bonds with a par value of $510,000 that pay interest semiannually. The...

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