On the basis of the details of the following bonds payable and related discount accounts, indicate the
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On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing section of the statement of cash flows, assuming no gain or loss on retiring thebonds:
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ACCOUNT Bonds Payable ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2010 Balance Jan. 500,000 Retire bonds 400,000 100,000 July Issue bonds 30 300,000 700,000 ACCOUNT Discount on Bond Payable ACCOUNT NO. Balance Credit Debit Credit Debit Date Item 2010 Balance Jan. 22,500 Retire bonds 3. 8,000 14,500 July Issue bonds 34,500 30 20,000 Amortize discount Dec. 31 1,750 32,750
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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