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Journalize the entries to record the selected transactions

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Reference no: EM133162023

Question - Entries for Issuing Bonds - Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $870,000 of 20-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.

May 1 Issued the bonds for cash at their face amount.

Nov. 1 Paid the interest on the bonds.

Dec. 31 Recorded accrued interest for two months.

Required - Journalize the entries to record the above selected transactions for the current year.

Reference no: EM133162023

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