On November 1 , 2 0 2 1 , Electromedical AG issued a 5 0
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Question:
On November Electromedical AG issued a year bond payable. The bond has a present value at issuance of and pays annual interest each October st Journalize the issuance of the bond, the December adjustments, and the annual interest payment in Answer the following questions:
a What is the reason for the difference between the face value and the present value of the bond?
b What is the nature of the account that indicates this difference?
c What is the carrying amount of the bond on December
d What is the total interest expense in
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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