The Colson Company issued $300,000 of 10% bonds on January 1, 2013. The bonds are due January
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The Colson Company issued $300,000 of 10% bonds on January 1, 2013. The bonds are due January 1, 2018, 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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a Journal Entry for January 1 2013 Bond IssuanceDebit Cash 300000Credit Bonds Payable 300000 b ...View the full answer
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