Waterbahn Waterslide Company issued 25,000 ten-year, 6 percent, $100 bonds on January 1, 2017, at face value.

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Waterbahn Waterslide Company issued 25,000 ten-year, 6 percent, $100 bonds on January 1, 2017, at face value. Interest is payable each December 31. Show the accounting equation effects and prepare journal entries for

(a) The issuance of these bonds on January 1, 2017,

(b) The interest payment on December 31, 2017.

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Fundamentals of Financial Accounting

ISBN: 978-1259269868

5th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

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Question Posted: Jan 27, 2020 12:19 PM

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Waterbahn Waterslide Company issued 25,000 ten-year, 6 percent, $100 bonds on January 1, 2017, at face value.

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a January 1 2017 dr Cash A 2500000 cr Bonds Payable L 2500000 b December 31 2017 ...View the full answer

Fundamentals of Financial Accounting

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