Question: Practice problem Long term liabilities 3 journal entries 1/1/2020 Lang corporation issues a $900,000 8% 10 year bond at face value. Interest is payable semi-

Practice problem

Long term liabilities 3 journal entries

1/1/2020 Lang corporation issues a $900,000 8% 10 year bond at face value.

Interest is payable semi- annually on July 1 and January 1

Lang corporation has a calendar year end.

Prepare the journal entries related to the bond issue for the year.

Date Account title Debit Credit

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