On January 1, 2017, Door #2 Services issued $20,000 of 8% bonds that mature in five years
They were issued at par. The bonds pay semiannual interest payments on June 30 and December 31 of each year. Provide the journal entry for the payment made on June 30, 2017.
What will be an ideal response
Interest Expense 800
Cash 800 .Interest Paid = $20,000 x 8% x 6/12 = $800
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