The Gorman Group issued $900,000 of 13% bonds on June 30, 2016, for $967,707. The bonds were dated on June 30 and mature on June 30, 2036 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30.
Required:
Complete the below table to record the company's journal entry. (Enter interest rate to 1 decimal place. (i. e. 0.123 should be entered as 12.3).)
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