Journalize the following transactions: 1. Set up a bond sinking fund with an initial deposit of $7,000.
Question:
Journalize the following transactions:
1. Set up a bond sinking fund with an initial deposit of $7,000.
2. Earned $230 interest on sinking fund balance.
3. Sinking fund of $25,000 was used to pay off bondholders in the amount of $25,000.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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