Question: Styles SAINT CS2 3 Editing 16 4 1 5 7) On January 1, a company issued 10%, 10-year bonds payable with a par value of

Styles SAINT CS2 3 Editing 16 4 1 5 7) On January 1, a company issued 10%, 10-year bonds payable with a par value of $720,000. The bonds pay interest on July 1 and January 1. The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. Prepare the journal entries to record the bond issuance and record the first semiannual interest payment, assuming it uses the straight-line method of amortization. Date Description Post Ref Debit Credit

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