Company issued $20,000,000 of bonds on May 1, 2021. The interest rate is 10% and interest is
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Question:
Company issued $20,000,000 of bonds on May 1, 2021. The interest rate is 10% and interest is payable on November 1st, and May 1st.
Prepare a journal entry to record the issuance of the bonds
Prepare a journal entry to record the November 1stinterest payment
Prepare a journal entry to record the accrued interest on December 31st
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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