On April 1, 2010, Morimoto Corporation issued $8,000,000 in percent, five-years bonds at 98. The semiannual interest
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On April 1, 2010, Morimoto Corporation issued $8,000,000 in percent, five-years bonds at 98. The semiannual interest payment dates are April 1 and October 1. Prepare entries in journal form for the issue of the bond by Morimoto on April 1, 2010, and the first two interest payments on October 1, 2010 and April 1, 2011. Use the straight-line method and ignore3 year-end accruals.
CorporationA 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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2010 Apr 1 Cash 7840000 Unamortized Bond Discount ...View the full answer
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