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Prepare Tamarisk journal entries for the January issuance

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Reference no: EM132515153

Question - The Tamarisk Company issued $370,000 of 11% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at face value.

Prepare Tamarisk's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.

Reference no: EM132515153

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