On january 1 2010 fabian enterprises issued 9 10-year bonds, Ask an Expert

Accounting

On January 1, 2010, Fabian Enterprises issued 9%, 10-year bonds with a face amount of $900,000 at 96. Interest is payable semiannually on June 30 and December 31. The bonds were issued for an effective interest rate of 10%.

Instructions
Prepare the entries to record the issuance of the bonds and the first semiannual interest payment.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M964562

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