Grenier Limited issued $300,000 of 10% bonds on January 1, 2014. The bonds are due on January

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Grenier Limited issued $300,000 of 10% bonds on January 1, 2014. The bonds are due on January 1, 2019, with interest payable each July 1 and January 1. The bonds are issued at face value. Grenier uses the effective interest method. Prepare the company's journal entries for
(a) The January issuance,
(b) The July 1, 2014 interest payment, and
(c) The December 31, 2014 adjusting entry.
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Intermediate Accounting

ISBN: 978-1118300855

10th Canadian Edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

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