Adcock Company issued $600,000, 9%, 20-year bonds on January 1, 2017, at 103. Interest is payable annually
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Instructions
Prepare the journal entries to record the following.
(a) The issuance of the bonds.
(b) The accrual of interest and the premium amortization on December 31, 2017.
(c) The payment of interest on January 1, 2018.
(d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
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Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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