Ritter Company issues $600,000 of 10%, 10-year bonds on January 1, 2008 at 102. Interest is payable
Question:
Ritter Company issues $600,000 of 10%, 10-year bonds on January 1, 2008 at 102. Interest is payable semiannually on July 1 and January 1. The company uses the straight-line method of amortization.
Instructions
Journalize the entries for the bonds on
(1) January 1, 2008,
(2) July 1, 2008, and
(3) December 31, 2008.
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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