Question

Grenier Limited issued $300,000 of 10% bonds on January 1, 2011. The bonds are due on January 1, 2016, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare the company’s journal entries for
(a) The January issuance,
(b) The July 1, 2011 interest payment, and
(c) The December 31, 2011 adjusting entry.


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  • CreatedAugust 23, 2015
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