On January 1, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable semiannually
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Instructions
Prepare journal entries to record the following events.
(a) The issuance of the bonds.
(b) The payment of interest on July 1, assuming no previous accrual of interest.
(c) The accrual of interest on December 31.
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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