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Prepare journal entries to record the issue

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Point 1: A company , issued $250,000 of 8%, 15-year bounds at 103 on July 1,2007. Interest is payable semi-annually on December 31 and June 30. Through June 30, 2014 A company amortized $3186 of the boud premium. on July 1, 2014 Distaff & Spear retired the bonds at 98.

Question 1: Prepare journal entries to record the  issue and retirement of these bounds.

 

Reference no: EM132489659

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