Greg Corporation issued on January 1,$600,000 of 10%,5-year bonds at contract rate.Interest is to be paid semiannually on July 1 and January 1.Journalize the following entries:
a.Issued the bonds.
b.Paid the first semiannual interest payment.
c.Retired the bonds at maturity.

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The Answer of Greg Corporation issued on January 1,$600,000 of 10%,5-year bonds at contract rate.Interest is to be paid semiannually on July 1 and January 1.Journalize the following entries:
a.Issued the bonds.
b.Paid the first semiannual interest payment.
c.Retired the bonds at maturity.

Greg Corporation Issued on January 1,$600,000 of 10%,5-Year Bonds at Contract