On January 1, 2006, Wildcat Company purchased $93,000 of 10% bonds at face value. The bonds are

Question:

On January 1, 2006, Wildcat Company purchased $93,000 of 10% bonds at face value. The bonds are to be held to maturity. The bonds pay interest semiannually on January 1, and July 1.

Requirements:

(a). Prepare the appropriate journal entry to record the acquisition of the bonds.

(b). Record the first two interest payments (ignore year-end accruals)

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Essentials of Accounting for Governmental and Not-for-Profit Organizations

ISBN: 978-0073527055

10th Edition

Authors: Paul A. Copley

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Question Posted: Jan 13, 2017 09:47 AM

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On January 1, 2006, Wildcat Company purchased $93,000 of 10% bonds at face value. The bonds are

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Essentials of Accounting for Governmental and Not-for-Profit Organizations

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