Solution-Prepare general journal entry to record interest

Prepare general journal entry to record interest payment

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Reference no: EM133028777

Problem - On January 1, a company issued 9%, 10-year bonds with a par value of $100,000 and the issuer received $95,016 cash for them. Interest is paid annually.

(a) Prepare the general journal entry to record the issuance of the bonds on January 1.

(b) Prepare the general journal entry to record the first interest payment on December 31.

Reference no: EM133028777

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Prepare general journal entry to record interest payment

Reference no: EM133028777

Reference no: EM133028777

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