Christopher Kearney Corporation sold $3,500,000, 7%, 20-year bonds on June 30, 2013. The company bonds were dated, June 30, 2013, and pay interest on June 30 and December 31. The company uses straight-line amortization for premiums and discounts.a) Prepare the journal entry on June 30, 2013 to record the issuance of the bonds assuming they sold at:1.962.104b) Prepare the journal entries on December 31, 2013 and June 31, 2014 to record the first two interest payments under both assumed sales.Be sure to show computations
RECOMMENDED!!Christopher Kearney Corporation sold $3,500,000
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