On January 1,2010,a Company Issued 10-Year,10% Bonds Payable with a Par

question 62

Essay

On January 1,2010,a company issued 10-year,10% bonds payable with a par value of $500,000 and received $442,647 in cash proceeds.The market rate of interest at the date of issuance was 12%.The bonds pay interest semiannually on July 1 and January 1.The issuer uses the straight-line method for amortization.Prepare the issuer's general journal entry to record the first semiannual interest payment on July 1,2010.

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Definitions:

Good Nutrition

Adequate, well-balanced intake of essential nutrients for health and growth.

Fetuses

A developmental stage of mammals within the womb, particularly of humans from the ninth week after conception to birth.

Longitudinal Method

A research design in which the same subjects are observed or studied over a long period to observe changes or development.

Neonates

Newborn babies, especially those less than four weeks old.