Whitmore Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2019. The bonds pay
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Instructions
(a) (1) Prepare the journal entry to record the issuance of the bonds.
(2) Compute the total cost of borrowing for these bonds.
(b) Repeat the requirements from part (a) , assuming the bonds were issued at 105.
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Related Book For
Financial Accounting
ISBN: 978-1119305736
10th edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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