(Answered) Question - pizza pier issues 5 8-year bonds with a face

Accounting

Question - Pizza Pier issues 5%, 8-year bonds with a face amount of $60,000 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is also 5%. Interest is paid semiannually on June 30 and December 31.

1. Record the bond issue.

2. Record the first interest payment on June 30, 2015.

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