On January 1 2015 White Water issues 600 000 of 7
On January 1, 2015, White Water issues $600,000 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 $600,000. Record the bond issue on January 1, 2015, and the first two interest payments on December 31, 2015, and December 31, 2016.

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