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Prepare bonita journal entries for the may issuance

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Reference no: EM132834440

Question - Bonita Corporation issued $588,000 of 6% bonds on May 1, 2020. The bonds were dated January 1, 2020, and mature January 1, 2023, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Bonita's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.

Reference no: EM132834440

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