The Colson Company issued 300,000 of 10% bonds on January 1, 2015. The bonds are due January
Question:
The Colson Company issued €300,000 of 10% bonds on January 1, 2015. The bonds are due January 1, 2020, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Colson’s journal entries for
(a) the January 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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