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Prepare bridgeports december 31 adjusting entry

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Question

Bridgeport Corporation issued $640,000 of 9% bonds on November 1, 2017, for $677,288. The bonds were dated November 1, 2017, and mature in 8 years, with interest payable each May 1 and November 1. Bridgeport uses the effective-interest method with an effective rate of 8%.

Prepare Bridgeport's December 31, 2017, adjusting entry.

Reference no: EM132325676

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