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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 30
Journalizing bond transactions-year-end interest accrual
Filmore Homebuilders issued $250,000 of 8%, 10-year bonds at par on September 30, 2012. Filmore pays semiannual interest on March 31 and September 30.
Requirements
1. Journalize the issuance of the bonds payable on September 30, 2012.
2. Journalize the accrual of interest on December 31, 2012.
3. Journalize the payment of semiannual interest on March 31, 2013.
Filmore Homebuilders issued $250,000 of 8%, 10-year bonds at par on September 30, 2012. Filmore pays semiannual interest on March 31 and September 30.
Requirements
1. Journalize the issuance of the bonds payable on September 30, 2012.
2. Journalize the accrual of interest on December 31, 2012.
3. Journalize the payment of semiannual interest on March 31, 2013.
Explanation
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2. Accrual of interest on Dece...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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