Sari Corporation issued $5,000,000 in 7.0 percent, five-year bonds on March 1, 2011, at 103. The semiannual
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Sari Corporation issued $5,000,000 in 7.0 percent, five-year bonds on March 1, 2011, at 103. The semiannual interest payment dates are September 1 and March 1.
Prepare journal entries for the issue of the bonds by Sari on March 1, 2011, and the first two interest payments on September 1, 2011, and March 1, 2012. Use the straight-line method and ignore year-end accruals.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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2011 Mar Sept 2012 Mar 1 Cash Unamortized Bond Premium Bonds Payable Issued 70 5year bonds at 103 ...View the full answer
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