Hare Corp. issued 5% seven-year bonds payable with a face amount of $100,000 when the market...
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Hare Corp. issued 5% seven-year bonds payable with a face amount of $100,000 when the market interest rate was 5%. Hare's fiscal year-end on December 31. The bonds pay interest on January 1 and July 1. Read the requirement. a. Issuance of the bonds payable at par on July 1, 2018 Journal Entry Accounts and Explanations Credit Date 2018 Debit ▼ Jul 1 b. Payment of the bonds payable at maturity (give the date) Journal Entry Date Accounts and Explanations Debit Credit Hare Corp. issued 5% seven-year bonds payable with a face amount of $100,000 when the market interest rate was 5%. Hare's fiscal year-end on December 31. The bonds pay interest on January 1 and July 1. Read the requirement. a. Issuance of the bonds payable at par on July 1, 2018 Journal Entry Accounts and Explanations Credit Date 2018 Debit ▼ Jul 1 b. Payment of the bonds payable at maturity (give the date) Journal Entry Date Accounts and Explanations Debit Credit
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Posted Date:
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