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Question - The company recognizes accrued interest for the bonds issued on April 1st. (end of year adjusting entry)
Potentially useful information: April 1st Issued a 10-year, $100,000,000 par value bond with an annual contract rate of interest of 8%, payable in semi-annual interest payments on September 30th and March 31st. the market rate of interest at the time of issuance was 9%.
What is the appropriate journal entry for the above transaction?
goldenrod warehouse distributes hardback books to retail stores and extends credit terms of 210 n30 to all of its
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