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Bond Sold Between Interest Payment Dates, Sold at Par. Takedo Company issued $ 600,000 par value, 10- year, 5% bonds on February 1, 2016. The bonds are dated January 1, 2016, and pay interest quarterly each March 31, June 30, September 30, and December 31.

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The bonds are sold at par plus accrued interest because the bonds are sold between interest dates. Prepare the journal entries required to issue the bonds on­February 1, 2016, and record the first interest payment on March 31. Get Accounting Help Today

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