Question: On March 1, 2024, Tanaka Lighting issued 10% bonds, dated March 1, with a face amount of $870,000. The bonds sold for $855,000 and mature

On March 1, 2024, Tanaka Lighting issued 10% bonds, dated March 1, with a face amount of $870,000. The bonds sold for $855,000 and mature on February 28, 2044 (20 years). Interest is paid semiannually on August 31 and February 28. Tanaka uses the straight-line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record the issuance of the bonds by Tanaka Lighting on March 1, 2024, interest on August 31

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