Sweetwood Company issues $5 million, 10-year, 9% bonds at 96, with interest payable on July 1 and
Question:
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2014.
(b) Prepare the journal entry to record interest expense and bond discount amortization on July 1, 2014, assuming no previous accrual of interest.
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a Jan 1 Cash 96 X 5000000 4800000 Discount ...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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