Business, 23.05.2020 00:59 sanchezr7187

On January 1, 2021, White Water issues $440,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year.

Assuming the market interest rate on the issue date is 7%, the bonds will issue at $440,000.

Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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On January 1, 2021, White Water issues $440,000 of 7% bonds, due in 10 years, with interest payable...

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