Devers Corporation issued 400,000 of 6% bonds on May 1, 2015. The bonds were dated January 1,
Question:
Devers Corporation issued £400,000 of 6% bonds on May 1, 2015. The bonds were dated January 1, 2015, and mature January 1, 2017, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Devers’ journal entries for
(a) the May 1 issuance,
(b) the July 1 interest payment, and
(c) the December 31 adjusting entry.
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Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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