Johanna Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1. Interest is

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Johanna Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1. Interest is payable each June 30 and December 31.

(a) Prepare the general journal entry to record the issuance of the bonds on January 1.

(b) Prepare the general journal entry to record the first interest payment on June 30.

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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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Posted Date: Jan 10, 2021 08:41 AM

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Johanna Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1. Interest is

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College Accounting Chapters 1-30

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