Question: Journalize 6 and 7 6. Issues bonds, that pay interest annually on december 31. The bonds have a $130,000 par value, the annual contract rate

Journalize 6 and 7

6. Issues bonds, that pay interest annually on december 31. The bonds have a $130,000 par value, the annual contract rate is 12%, and the bonds mature in 15 years. Market rate at the date of issuance is 12%. 7. Paid the premiums on property and casualty insurance policies, $3,000

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