Dailey Company issued $300,000, 8%, 15-year bonds on December 31, 2013, for $288,000. Interest is payable annually
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Instructions
Prepare the journal entries to record the following events.
(a) The issuance of the bonds.
(b) The payment of interest and the discount amortization on December 31, 2014.
(c) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
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2013 a Dec 31 Cash 288000 Discount on Bonds Payable ...View the full answer
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Related Book For 
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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