Computing the interest for the last interest period

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Reference no: EM131830840

Question: Kale Company issued $350,000 of 8%, 20-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1.

Instructions: Prepare the journal entries to record the following events. (a) The issuance of the bonds.

(b) The accrual of interest on December 31, 2017.

(d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.

Reference no: EM131830840

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