Question: Jane Copany issues 2 million , 10 year, 8% bonds at 97, with the interest payable 1 July and 1 Jan Prepare a journal entry

Jane Copany issues 2 million , 10 year, 8% bonds at 97, with the interest payable 1 July and 1 Jan

Prepare a journal entry to record the sale of these bonds on 1 January 2014

Assuming instead that the above bonds sold for 104, prepare the journal entry to record sale of the bonds on 1 January 2014

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