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Posted: **Fri Jul 01, 2022 8:27 am**

: Pina Co Is Building A New Hockey Arena At A Cost Of 2 560 000 It Received A Downpayment Of 450 000 From Local Busine 1 (16.09 KiB) Viewed 33 times

: Pina Co Is Building A New Hockey Arena At A Cost Of 2 560 000 It Received A Downpayment Of 450 000 From Local Busine 2 (16.92 KiB) Viewed 33 times

Pina Co. is building a new hockey arena at a cost of $2,560,000. It received a downpayment of $450,000 from local businesses to support the project, and now needs to borrow $2,110,000 to complete the project. It therefore decides to issue $2,110,000 of 12 %, 10-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 11%.

Date Account Titles and Explanation January 1, 2019 Debit Credit