Question: Concord Hills Ltd . issued five - year bonds with a face value of $ 1 8 0 , 0 0 0 on January 1

Concord Hills Ltd. issued five-year bonds with a face value of $180,000 on January 1. The bonds have a coupon interest rate of 5% and interest is paid semi-annually on June 30 and December 31. The market interest rate was 3% when the bonds were issued at a price of 109.
Determine the balance in the Bonds Payable account immediately following the first interest payment.
Balance in bonds payable account
Concord Hills Ltd. issued five-year bonds with a face value of

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