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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 45
Journalizing bond transactions
Origin, Inc., issued a $40,000, 5%, 10-year bond payable at a price of 90 on January 1, 2012.
Requirements
1. Journalize the issuance of the bond payable on January 1, 2012.
2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2012, using the straight-line method to amortize the bond discount or premium.
Origin, Inc., issued a $40,000, 5%, 10-year bond payable at a price of 90 on January 1, 2012.
Requirements
1. Journalize the issuance of the bond payable on January 1, 2012.
2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2012, using the straight-line method to amortize the bond discount or premium.
Explanation
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2. Straight - Line depreciation is a met...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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