On August 31, Demich Co. partially refunded $180,000 of its outstanding 10% note payable made one year
Question:
(1) Make the entry to record the partial refunding. Assume Demich Co. makes reversing entries when appropriate.
(2) Prepare the adjusting entry at December 31, assuming straight-line amortization of the discount.
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Step by Step Answer:
1 Notes Payable 180000 Interest Expense ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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