On the basis of the details of the following bonds payable and related discount accounts, indicate the
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ACCOUNT Bonds Payable ACCOUNT NO Balance Date tem Debit Credit Debit Credit 2008 Jan Jan July 30 Issue bonds 1 Balance 3 Retire bonds 150,000 80,000 430,000 70,000 350,000 ACCOUNT Discount on Bonds Payable 2008 Jan Jan July Dec31 Amortize discount ACCOUNT NO 1 Blance 3 Retire bonds 12,000 6,400 26,400 24,800 5,600 30 Issue bonds 20,000 1,600
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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