Solution-Make the necessary journal entry

Make the necessary journal entry

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Assume Strand Corp borrowed $200,000 from the bank on 7/1/19; Strand is a calendar year-end. Interest rate 6%. It is a 1 year note, payable at the end of 1 year. Make the necessary journal entry on 7/1/19, 12/31/19 and 6/30/20.

Assume Strand Corp issued 1,000 Bonds at Par. 3 year bonds. 4% Coupon Rate. Interest is paid each 6/30 & 12/31. Make the entries for the Issuance Date, Interest Payment Dates and Maturity Date.

Reference no: EM133172272

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Make the necessary journal entry

Reference no: EM133172272

Reference no: EM133172272

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