Global Airlines Ltd. issued NT$900,000 of 8%, 10-year bonds on January 1, 2017, at face value. Interest

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Global Airlines Ltd. issued NT$900,000 of 8%, 10-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1.

Instructions

Prepare the journal entries to record the following events.

1. The issuance of the bonds.

2. The accrual of interest on December 31.

3. The payment of interest on January 1, 2018.

4. The redemption of bonds at maturity, assuming interest for the last interest period has been paid and recorded.

Related Book For answer-question

Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Jan 15, 2021 06:12 AM

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Global Airlines Ltd. issued NT$900,000 of 8%, 10-year bonds on January 1, 2017, at face value. Interest

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Answer Date Particulars Debit in S Credit in Jan 01 ... View the full answer

Accounting Principles

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