Transactions related to long-term bonds

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Prepare journal entries to record the following transactions related to long-term bonds of Alpha Co. On November 1, 2014, Alpha issued $1,000,000 10% bonds at 98. Interest is payable annually on November 1, and the bonds mature on November 1, 2024 On November 1, 2015 Alpha paid interest on the bonds. Alpha uses straight-line amortization. On November 1, 2024 Alpha retired the bonds making the final interest payment and full payment on the bonds payable

Reference no: EM131084407

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