Jigar Tech, Inc., is authorized to issue $1,800,000 in bonds on June 1. The bonds carry a
Question:
Jigar Tech, Inc., is authorized to issue $1,800,000 in bonds on June 1. The bonds carry a face interest rate of 9 percent, which is to be paid on June 1 and December 1. Prepare entries in journal form for the issue of the bonds by Jigar Tech, Inc., under the assumptions that
(a) The bonds are issued on September 1 at 100 and
(b) The bonds are issued on June 1 at 105.
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a Sept 1 Cash 1840500 Bond Interest Expense 40500 Bon...View the full answer
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