Business, 16.08.2020 01:01, tiakimberly3

A company issues 5%, 12-year bonds with a face amount of $70,000 for $64,070 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31. Required:
Record the bond issue and first interest payment on June 30, 2021.

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A company issues 5%, 12-year bonds with a face amount of $70,000 for $64,070 on January 1, 2021. The...