Sandstone Company issues $1 million, 10-year, 5% bonds at 97, with interest payable on July 1 and
Question:
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2014.
(b) Assuming instead that the above bonds sold for 104, prepare the journal entry to record the sale of these bonds on January 1, 2014.
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a Jan 1 Cash 1000000 X 97 970000 Disco...View the full answer
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Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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