The Whispering Company issued $360,000 of 11% bonds on January 1, 2017. The bonds are due January

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The Whispering Company issued $360,000 of 11% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 104.

Prepare the journal entries for

(a) January 1, (b) July 1, and (c) December 31. Assume The Whispering Company records straight-line amortization semiannually.

Related Book For answer-question

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

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

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Posted Date: Jun 23, 2022 05:55 AM

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The Whispering Company issued $360,000 of 11% bonds on January 1, 2017. The bonds are due January

Question:

No. Date (a) January 1, 2017 (b) July 1, 2017 (c) December 31, 2017 Account Titles and Explanation Debit Credit No. Date (a) January 1, 2017 (b) July 1, 2017 (c) December 31, 2017 Account Titles and Explanation Debit Credit

Expert Answer:

All working forms part of the answer Workings A Face Value 36000000 B Issue ... View the full answer

Intermediate Accounting IFRS

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