On January 1, 2017, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable

Question:

On January 1, 2017, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable annually on January 1.

Instructions

Prepare journal entries to record the following.

(a) The issuance of the bonds.

(b) The accrual of interest on December 31, 2017.

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Mar 02, 2015 10:07 AM

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On January 1, 2017, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable

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2017 a Jan1 Cash 400000 Bonds Payable ...View the full answer

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