On January 1, 2018, management issued bonds maturing on December 31, 2027 (ten years) with a face value of $1,000,000 pa

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answerhappygod
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On January 1, 2018, management issued bonds maturing on December 31, 2027 (ten years) with a face value of $1,000,000 pa

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On January 1, 2018, management issued bonds maturing on December31, 2027 (ten years) with a face value of $1,000,000 payinginterest of six percent semiannually on June 30, andDecember 31 at 98.
Required: Prepare journal entriesfor January 1, 2018, June 30, 2018, and December 31, 2018. Calculate the balance in the discountaccount on December 31, 2018.
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