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Question On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest

Question On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest

On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:

a. Issuance of the bonds.

If an amount box does not require an entry, leave it blank, or enter zero "0".

b. First semiannual interest payment.

c. Amortization of bond discount for the year, using the straight-line method of amortization.

 

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a. Issuance of the bonds.

If an amount box does not require an entry, leave it blank, or enter zero "0".

manish jayant 22-Apr-2020

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