Question: On December 1 201X Maltby Corporation issued 950 000 of 8

On December 1, 201X, Maltby Corporation issued $950,000 of 8%, 10-year bonds to lenders at par (100). Interest is to be paid semiannually on June 1 and December 1. Amortization of discount is by the straight-line method. Journalize the following entries:
a. Issued the bonds.
b. Paid semiannual interest payment.
c. Retirement of bonds, assuming interest expense is up-to-date.

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  • CreatedApril 24, 2014
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