Waterbury Corporation issued $16,000,000 in 8.5 percent, five-year bonds on March 1, 2014, at 96. The semiannual

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Waterbury Corporation issued $16,000,000 in 8.5 percent, five-year bonds on March 1, 2014, at 96. The semiannual interest payment dates are September 1 and March 1. Prepare the journal entries to record the issue of the bonds by Waterbury on March 1, 2014, and the first two interest payments on September 1, 2014, and March 1, 2015. Use the straight-line method and ignore year-end accruals.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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