D&E Stamps issued the following bonds: Date of issue and sale..April 1, 20-1 Principal amount: ....$400,000 Sale

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D&E Stamps issued the following bonds:

Date of issue and sale..April 1, 20-1

Principal amount: ....$400,000

Sale price of bonds: ...100

Denomination of bonds: ..$1,000

Life of bonds: ......10 years

Stated rate: ........7%, payable semiannually on September 30 and March 31

Prepare journal entries for:

(a) Issuance of the bonds.

(b) Interest payment on the bonds on September 30.

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College Accounting Chapters 1-15

ISBN: 978-1285055459

21st Edition

Authors: James Heintz

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D&E Stamps issued the following bonds: Date of issue and sale..April 1, 20-1 Principal amount: ....$400,000 Sale

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GENERAL JOURNAL PAGE date description post ref debit credit 1 201 Apr 1 Cash 400 0 ...View the full answer

College Accounting Chapters 1-15

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