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1. XYZ issues a 15-year, $20,000,000 bond on September 1, 2019 with a stated interest rate...

1. XYZ issues a 15-year, $20,000,000 bond on September 1, 2019 with a stated interest rate of 3.4%, payable semiannually. Market interest rates on September 1, 2019 were 3.8%. Prepare the journal entry to record the transaction on September 1, 2019.

2. Prepare the journal entries to record interest expense and other accounts for XYZ’s bond for the first 2 interest payments (ignore year-end accruals)

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ekkarill92 answered 2 years ago
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