Jobs Inc. issued a $500,000, 4 percent, 10-year bond payable at a price of 95 on January

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Jobs Inc. issued a $500,000, 4 percent, 10-year bond payable at a price of 95 on January 1, 2017. Journalize the following transactions for Jobs Inc. Include an explanation for each entry.
1. Issuance of the bond payable on January 1, 2017.
2. Payment of semi-annual interest and amortization of bond discount on July 1, 2017. Jobs uses the straight-line method to amortize the bond discount.
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Horngrens Accounting

ISBN: 978-0133855388

10th Canadian edition Volume 2

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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