Produces and distributes, Gabriel Co. produces and

Produces and distributes

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Reference no: EM13912847

Gabriel Co. produces and distributes semiconductors for use by computer manufacturers. Gabriel Co. issued $840,000 of 10-year, 4% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions for the current year. Refer to the Chart of Accounts for exact wording of account titles. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months.

Reference no: EM13912847

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Chart of accounts : A. Journalize the entries to record the following transactions. Refer to the Chart of Accounts for exact wording of account titles.

Produces and distributes : Gabriel Co. produces and distributes semiconductors for use by computer manufacturers.

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Employee worked : Assume that the employee worked 60 hours during the week, and that the gross pay prior to the current week totaled $52,200

Journalize the entries : Journalize the entries to record (a) the issuance of the note on January 1 and (b) the payment of the note at maturity, including interest

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