Neagle Corporation issued $500,000 9% 10 year bonds on January 1, 2009 for $468,844. Interest is payable

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Neagle Corporation issued $500,000 9% 10 year bonds on January 1, 2009 for $468,844. Interest is payable semi annually on July 1 and January 1. Neagle uses straight line amortization for bond premium or discount

Prepare journal entries to record the following:

a. issuance of the bond

b. payment of interest on July 1

c. Accrual of interest on December 31

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Posted Date: Nov 02, 2018 11:23 AM

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Neagle Corporation issued $500,000 9% 10 year bonds on January 1, 2009 for $468,844. Interest is payable

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a Journal entry to record the issue of bonds To record the journal entry on the dat... View the full answer

Intermediate Accounting

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