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On January 1,2017,Streuly Sales Issued $29,000 in Bonds for $20,700

Question 104

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On January 1,2017,Streuly Sales issued $29,000 in bonds for $20,700.These are six-year bonds with a stated rate of 12% and pay semiannual interest.Streuly Sales uses the straight-line method to amortize the Bond Discount.Immediately after the issue of the bonds,the ledger balances appeared as follows: On January 1,2017,Streuly Sales issued $29,000 in bonds for $20,700.These are six-year bonds with a stated rate of 12% and pay semiannual interest.Streuly Sales uses the straight-line method to amortize the Bond Discount.Immediately after the issue of the bonds,the ledger balances appeared as follows:   Discount on Bonds Payable   After the second interest payment on December 31,2017,what is the balance of Discount on Bonds Payable? A) debit of $7,608 B) debit of $8,992 C) debit of $6,917 D) credit of $8,300 Discount on Bonds Payable
On January 1,2017,Streuly Sales issued $29,000 in bonds for $20,700.These are six-year bonds with a stated rate of 12% and pay semiannual interest.Streuly Sales uses the straight-line method to amortize the Bond Discount.Immediately after the issue of the bonds,the ledger balances appeared as follows:   Discount on Bonds Payable   After the second interest payment on December 31,2017,what is the balance of Discount on Bonds Payable? A) debit of $7,608 B) debit of $8,992 C) debit of $6,917 D) credit of $8,300 After the second interest payment on December 31,2017,what is the balance of Discount on Bonds Payable?


A) debit of $7,608
B) debit of $8,992
C) debit of $6,917
D) credit of $8,300

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