Ratzlaff Company issues $2 million, 10-year, 8% bonds at 97, with interest payable on July 1 and
Question:
Ratzlaff Company issues $2 million, 10-year, 8% bonds at 97, with interest payable on
July 1 and January 1.
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2010.
(b) Assuming instead that the above bonds sold for 104, prepare the journal entry to record the sale of these bonds on January 1, 2010.
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a Jan 1 Cash 2000000 X 97 1940000 Disc...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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