Cisco Computing invested an additional 100000 face amount of 10 year bonds issued by Waco Micro Chip
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Question:
Cisco Computing invested an additional 100000 face amount of 10 year bonds issued by Waco Micro Chip Company on Jan 1 20x1. The bonds were purchased at 95 and bear interest at standard rate of 7%per annum, payable semiannually. The discount will be amortized on straight line bases.
- How do I Prepare journal entry to record the initial investment on Jan 20x1.
- How do i Prepare the journal entry that Devol would record on each interest date.
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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