On January 1, 2014, Garrison Corp, issued 13% bonds dated January 1,2014, with a face amount of
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Required:
1. Determine the price of the bonds at January 1, 2014.
2. Prepare the journal entry to record the bond issuance by Garrison on January 1, 2014.
3. Prepare the journal entry to record interest on December 31, 2015, using the straight-line method.
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Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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