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08-03-2024
Business

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Willis Corporation has an accounting fiscal year from January 01 through December 31. Willis Corporation issued bonds on May 01, 2020, in $1,000 increments, 5,000 bonds. The bonds are rated at BBB+ with a stated interest rate of 6% for 10 years. Interest is paid semiannually, and the bonds are sold at 105. What is the journal entry for the second semi-annual interest payment? Please list Date - list date, then Debit - Account Title - Dollar Amount and Credit - Account Title - Dollar Amount, and explanation

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