Question: Ike issues $ 2 6 0 , 0 0 0 of 9 % , three - year bonds dated January 1 , 2 0 2

Ike issues $260,000 of 9%, three-year bonds dated January 1,2021, that

Ike issues $260,000 of 9%, three-year bonds dated January 1,2021, that pay interest semiannually on June 30 and December 31. They are issued at $266,811 when the market rate is 8%.
Required:
Prepare the January 1 journal entry to record the bonds' issuance.
Journal entry worksheet
1
Record the issue of bonds with a par value of $260,000 on January 1,2021 at an issue price of $266,811.
pay interest semiannually on June 30 and December 31. They are issued

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