on January 1 , 2 0 2 3 , PharaohCorporation issued $ 7 8 2 , 0

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Question:

on January

1, 2023,

Pharaoh Corporation issued $

782, 000

7 %

bonds that are due in

11

years. The bonds were issued for $

844, 313

and pay interest each July

1

and January

1 .

The company uses the effective interest method. Assume an effective rate of

6 % .

1. Prepare the company's December

31

adjustment entry.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470161012

9th Canadian Edition, Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

See More Books

Posted Date: Apr 04, 2024 10:27 AM

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on January 1 , 2 0 2 3 , PharaohCorporation issued $ 7 8 2 , 0

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Expert Answer:

To prepare the companys December 31 adjustment entry for the bonds issued by Pharaoh Corporation we ... View the full answer

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