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Business, 17.04.2020 01:23 kobiemajak

On March 1, Year 1, Hubbard Co. issued at a price of 100 $20 million of 8%, 25-year bonds payable. Interest is payable semiannually each March 1 and September 1. a. What is the amount of cash paid to bondholders for interest during Year 1? $ b. Give the adjusting entry necessary at December 31, year 1 (if any), regarding this bond issue. c. Interest expense on this bond issue reported in Hubbard's Year 1 income statement is: $ d. With respect to this bond issue, Hubbard 's balance sheet at December 31, Year 1, includes bonds payable of $ and interest payable of $. (Indicate $0 or "none" if the item is not reported.) e. Give the journal entry made by Hubbard on March 1, Year 2, to record the semiannual payment of interest to bondholders.

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On March 1, Year 1, Hubbard Co. issued at a price of 100 $20 million of 8%, 25-year bonds payable. I...
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