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July 29, 2015

Homework Help: Accounting

Posted by Xavier on Friday, June 27, 2008 at 12:15pm.

On January 1, 2008, Boston Enterprises issues bonds that have a 3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par.

How much interest will Boston pay (in cash) to the bondholders every six months?

Prepare journal entries to record:

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