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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 37
Journalizing bond transactions
Vernon Corporation issued a $110,000, 6.5%, 15-year bond payable.
Requirement
1. Journalize the following transactions for Vernon and include an explanation for each entry:
a. Issuance of the bond payable at par on January 1, 2012.
b. Payment of semiannual cash interest on July 1, 2012.
c. Payment of the bond payable at maturity. (Give the date.)
Vernon Corporation issued a $110,000, 6.5%, 15-year bond payable.
Requirement
1. Journalize the following transactions for Vernon and include an explanation for each entry:
a. Issuance of the bond payable at par on January 1, 2012.
b. Payment of semiannual cash interest on July 1, 2012.
c. Payment of the bond payable at maturity. (Give the date.)
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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