On April 1, 2021, Windsor, Inc. purchased $615,000 of 6% bonds for $639,225 plus accrued interest...
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On April 1, 2021, Windsor, Inc. purchased $615,000 of 6% bonds for $639,225 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2026. Prepare the journal entry on April 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Apr. 1, 2021 Debit Credit The bonds are sold on November 1, 2022 at 103 plus accrued interest. Amortization was recorded when interest was recei the straight-line method. Prepare all entries required to properly record the sale. (Credit account titles are automatically inde when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the a Round answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit (To record amortization) (To record interest) (To record the sale of the bonds) On April 1, 2021, Windsor, Inc. purchased $615,000 of 6% bonds for $639,225 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2026. Prepare the journal entry on April 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Apr. 1, 2021 Debit Credit The bonds are sold on November 1, 2022 at 103 plus accrued interest. Amortization was recorded when interest was recei the straight-line method. Prepare all entries required to properly record the sale. (Credit account titles are automatically inde when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the a Round answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit (To record amortization) (To record interest) (To record the sale of the bonds)
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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