Question: Cloud 9 Corporation issued $ 2 , 5 0 0 , 0 0 0 of 8 % 2 5 year bonds on January 1 st

Cloud 9 Corporation issued $2,500,000 of 8%25 year bonds on January 1st. Interest is paid on January and July 1st. They were issued under three different situations. The first was at face value on January 1st. The second was issued at 101 on January 1st and the third was issued at 99 on January 1st. Prepare the journal entries for the issuance of the bond for each situation and the first interest payment. (You should have a total of six journal entries).

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