Bond Issue On January 1, 2019, Lightfoot Corporation issues 10%, 5-year bonds with a face value of $275,000 when the effective interest rate is 9%. Interest is to be paid semiannually on June 30 and December 31.
Required:
Prepare the journal entry to record the first interest payment on June 30, 2019.
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Bond Issue On January 1, 2019, Lightfoot Corporation issues 10%, 5-year bonds with a face value of $...
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