Zhu Ltd. issues HK$5 million, 10-year, 9% bonds at 96, with interest payable annually on January 1.
Question:
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2017.
(b) Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2017.
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a Jan 1 Cash 96 HK5000000 4800000 ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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