Medical Dispensary borrowed $ 390,000 on January 2, 2014, by issuing a 10% serial bond payable that
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Medical Dispensary borrowed $ 390,000 on January 2, 2014, by issuing a 10% serial bond payable that must be paid in three equal annual installments plus interest for the year. The first payment of principal and interest comes due January 2, 2015.
Complete the missing information.
Assume the bonds are issued at facevalue.
Transcribed Image Text:
December 31 2014 2015 2016 Current Liabilities: Bonds Payable Interest Payable Long-Term Liabilities: Bonds Payable
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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