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Prepare the two separate general joural entries for oct

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Reference no: EM132591646

On may 1,2017 custody storage company issued a 400,00, 6% ten year bond. Interest is to be paid semi annually Oct 31 and April 30. The rate of interest was 4% on the date the bond issue and the bonds were sold for 465,406.

Note: Show calculations and round to the nearest dollar

Required!

Question 1) Prepare the journal entry for the issuance of the bonds

Question 2) Prepare the 2 separate general joural entries for Oct 31,2017 and APril 30,2018 interest payments using the effective interest method of allocating interest and amortizing the bond discount or premium bond

Reference no: EM132591646

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