CJ Company issues a $100,000 9-month note on October 1, 2019. The bond interest rate is 8

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CJ Company issues a $100,000 9-month note on October 1, 2019. The bond interest rate is 8 percent and the note pays the interest at maturity. On February 15, CJ CO. discovers that it had not accrued interest at its fiscal year end (December 31). CJ is not required to accrue interest at its fiscal year end under the Internal Revenue Code.

Posted Date: Nov 18, 2021 05:56 PM

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CJ Company issues a $100,000 9-month note on October 1, 2019. The bond interest rate is 8

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Journal entry for the issuance of bond Date Explanation Dr Cr Ja... View the full answer

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