Question: Required information A company issued 11% bonds, dated January 1, with a face amount of $420,000 on January 1, 2021. The bonds mature in 4

Required information A company issued 11% bonds, dated January 1, with

Required information A company issued 11% bonds, dated January 1, with a face amount of $420,000 on January 1, 2021. The bonds mature in 4 years. The market rate of interest for similar bonds was 9%. Interest is paid semiannually on June 30 and December 31 The company uses the effective interest method. The bonds issued for a price of $447,703. Use the information above to answer the questions below. Provide the journal entry for issuance of the bonds. View transaction list Journal entry worksheet Provide the journal entry for issuance of the debt. Note: Enter debits before credits S.No/Date Account Title Debit Credit Jan. 1, 2021

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