Question: Exercise 9-10 (Algo) Record bonds issued at face amount and related semiannual interest (LO9-5) On January 1, 2024, Splash City issues $410,000 of 9% bonds,
Exercise 9-10 (Algo) Record bonds issued at face amount and related semiannual interest (LO9-5) On January 1, 2024, Splash City issues $410,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the bonds issue for $410,000, record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a
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