On January 1,2012,Ripstick Park issues $800,000 of 8% bonds,due in ten years,with interest payable semiannually on June 30 and December 31 each year.Assuming the market interest rate on the issue date is 8%,the bonds will issue at $800,000.Record the bond issue on January 1,2012,and the first two semiannual interest payments on June 30,2012,and December 31,2012.

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The Answer of On January 1,2012,Ripstick Park issues $800,000 of 8% bonds,due in ten years,with interest payable semiannually on June 30 and December 31 each year.Assuming the market interest rate on the issue date is 8%,the bonds will issue at $800,000.Record the bond issue on January 1,2012,and the first two semiannual interest payments on June 30,2012,and December 31,2012.

On January 1,2012,Ripstick Park Issues $800,000 of 8% Bonds,due in Ten