Journalize the following transactions: 1. Issued three $35,000, 8% bonds that mature in 12 years at face

Question:

Journalize the following transactions:

1. Issued three $35,000, 8% bonds that mature in 12 years at face value on May 1.

2. Paid semiannual interest on October 31.

3. Bonds retired at end of 12 years.

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...

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