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On January 1, 2011, Beltway Enterprises issued 9%, 5-year bonds with a face amount of €700,000 at par

Accounting

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On January 1, 2011, Beltway Enterprises issued 9%, 5-year bonds with a face amount of €700,000 at par.  Interest is payable semiannually on June 30 and December 31.

Instructions

Prepare the entries to record the issuance of the bonds and the first semiannual interest payment.