1. For this question please use the following information: DDD Company issued $100,000, 5-year term bonds at...
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Question:
1. For this question please use the following information:
DDD Company issued $100,000, 5-year term bonds at 102 with 6% interest. What is the entry when the bonds are issued?
What are the journal entries when the interest on the bonds is paid and the premium or discount is amortized?
2. For this question please use the following information:
EFG Company issued $100,000, 3-year term bonds at 97 with 5% interest. What is the entry when the bonds are issued?
What are the journal entries when the interest on the bonds is paid and the premium or discount is amortized?
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
Posted Date: