On January 1, 2015, White Water issues $200,000 of 7% bonds, due in 10 years, with interest

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On January 1, 2015, White Water issues $200,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year.

Required:
Assuming the market interest rate on the issue date is 7%, the bonds will issue at $200,000. Record the bond issue on January 1, 2015, and the first two interest payments on December 31, 2015, and December 31, 2013.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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