Aroma Coffee Corp. is a publicly traded company who issued $100,000, 8%, three-year bonds. The bonds...
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Aroma Coffee Corp. is a publicly traded company who issued $100,000, 8%, three-year bonds. The bonds were dated February 1, 20x5, mature January 31, 20x8, and pay interest on July 31 and January 31. The bonds were sold on February 1, 20x5, to yield 7.75%. The company retired 25% of the bonds on August 1 20x6, at 104. Aroma's fiscal year end is December 31. Required: Prepare all the required journal entries for 20x5 including any year end accruals. Aroma Coffee Corp. is a publicly traded company who issued $100,000, 8%, three-year bonds. The bonds were dated February 1, 20x5, mature January 31, 20x8, and pay interest on July 31 and January 31. The bonds were sold on February 1, 20x5, to yield 7.75%. The company retired 25% of the bonds on August 1 20x6, at 104. Aroma's fiscal year end is December 31. Required: Prepare all the required journal entries for 20x5 including any year end accruals.
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On February 1 20x5 Aroma Coffee Corp issued 100000 8 threeyear bonds T... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0132928939
7th edition
Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
Posted Date:
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