Swisher Company issued $2,000,000 of bonds on January 1, 2022. Instructions a . Prepare the journal entry

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Swisher Company issued $2,000,000 of bonds on January 1, 2022.

Instructions

a. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 98, and (3) 103.

b. Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100.

c. Prepare the journal entry to record the redemption of the bonds before maturity at 98. Assume the balance in Premium on Bonds Payable is $9,000.

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Accounting Principles

ISBN: 9781119707110

14th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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Question Posted: Jun 30, 2022 01:46 AM

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Swisher Company issued $2,000,000 of bonds on January 1, 2022. Instructions a . Prepare the journal entry

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a 1 Cash 2 Bonds Payable Cash At 100 2000000 ...View the full answer

Accounting Principles

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