Question

Vernon issued a $ 110,000, 6.5%, 15-year bond payable. Journalize the following transactions for Vernon and include an explanation for each entry:
a. Issuance of the bond payable at face value on January 1, 2014.
b. Payment of semiannual cash interest on July 1, 2014.
c. Payment of the bond payable at maturity. (Give the date.)



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  • CreatedJanuary 16, 2015
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