Foreman Company issued 800,000 of 10%, 20-year bonds on January 1, 2015, at 119.792 to yield 8%.
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Foreman Company issued €800,000 of 10%, 20-year bonds on January 1, 2015, at 119.792 to yield 8%. Interest is payable semiannually on July 1 and January 1.
Instructions Prepare the journal entries to record the following.
(a) The issuance of the bonds.
(b) The payment of interest and the related amortization on July 1, 2015.
(c) The accrual of interest and the related amortization on December 31, 2015.
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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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