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Prepare the journal entry related to the bonds for january

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Riverbed Limited issued $366,000 of 8% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 98. Riverbed Limited follows ASPE and records the amortization using the straight-line method.

Question 1. Prepare the journal entry related to the bonds for January 1.

Question 2. Prepare the journal entry related to the bonds for July 1.

Reference no: EM132462250

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