On January 1, 2015, JWS Corporation issued ($600),000 of 7% bonds, due in 10 years. The bonds

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On January 1, 2015, JWS Corporation issued $$600$,000 of 7% bonds, due in 10 years. The bonds were issued for $$559$,224, and pay interest each July 1 and January 1. Prepare the company’s journal entries for

(a) the January 1 issuance,

(b) the July 1 interest payment, and

(c) the December 31 adjusting entry. Assume an effective-interest rate of 8%.

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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Mar 23, 2024 08:02 AM

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On January 1, 2015, JWS Corporation issued ($600),000 of 7% bonds, due in 10 years. The bonds

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Intermediate Accounting IFRS Edition

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