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Homework answers / question archive / Help Save & Exit Submit On January 1, Boston Enterprises issues bonds that have a $1,800,000 par value, mature in 20 years, and pay 8% interest semiannually on June 30 and December 31

Help Save & Exit Submit On January 1, Boston Enterprises issues bonds that have a $1,800,000 par value, mature in 20 years, and pay 8% interest semiannually on June 30 and December 31

Accounting

Help Save & Exit Submit On January 1, Boston Enterprises issues bonds that have a $1,800,000 par value, mature in 20 years, and pay 8% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. 3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 96 and (b) 104. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry for issuance assuming the bonds are issued at (a) 96 and (b) 104. View transaction list Journal entry worksheet < 1 2 Record the issue of bonds at 104. Note: Enter debits before credits Date General Journal Debit Credit January 01 Clear entry View general Journal Record entry < Required 2 Required 3 >

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