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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 54
Journalizing bond transactions-issuance between interest payment dates
Silk Realty issued $300,000 of 8%, 10-year bonds payable at par value on May 1, 2012, four months after the bond's original issue date of January 1, 2012.
Requirements
1. Journalize the issuance of the bonds payable on May 1, 2012.
2. Journalize the payment of the first semiannual interest amount on July 1, 2012.
Silk Realty issued $300,000 of 8%, 10-year bonds payable at par value on May 1, 2012, four months after the bond's original issue date of January 1, 2012.
Requirements
1. Journalize the issuance of the bonds payable on May 1, 2012.
2. Journalize the payment of the first semiannual interest amount on July 1, 2012.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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