On the basis of the details of the following bonds payable and related discount accounts, indicate the
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ACCOUNT Bonds Payable ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2016 1Balance 2 Retire bonds Jan. 750,000 600,000 1,050,000 150,000 June 30 Issue bonds 450,000 ACCOUNT Discount on Bonds Payable ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2016 Jan. 1 Balance 2 Retire bonds June 30 Issue bonds Dec.31 Amortize discount 33,750 12,000 21,750 51,750 2,625 49,125 30,000
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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