ZZZ Co borrowed money by issuing $400,000 of bonds at 98 on January 1, 2020. The bonds
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Question:
ZZZ Co borrowed money by issuing $400,000 of bonds at 98 on January 1, 2020. The bonds pay interest on January 1 and July 1. The stated rate of interest is 6% and the bonds mature in 5 years. Any discount or premium is amortized using the straight-line method.
Required:
Prepare journal entries on the following dates: (No explanations required)
- January 1, 2020
- July 1, 2020
- December 31, 2020
- January 1, 2021
- January 1, 2025
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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