On February 15, 20x1, the Pistachio Corporation issues $8,000,000 of 4.5% bonds. The bonds were dated December

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Question:

On February 15, 20x1, the Pistachio Corporation issues $8,000,000 of 4.5% bonds. The bonds were dated December 31, 20x0, and are due on December 31, 20x14. The bonds were issued to yield 4.8% and pay interest semi-annually on June 30 and December 31.

Required

– Prepare all journal entries relative to this bond issue for the year ended December 31, 20x1.