Question

Simon Corporation issued 3%, 20-year bonds payable with a maturity value of $710,000 on May 31 . The bonds were issued at par and pay interest on May 31 and November 30.

Requirements
1. Record the issuance of the bonds on May 31.
2. Record the payment of interest on November 30, and accrual of interest on December 31.



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  • CreatedApril 29, 2014
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