On January 1, Camel Cove Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable

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On January 1, Camel Cove Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1.
Instructions
Present journal entries to record the following.
(a) The issuance of the bonds.
(b) The payment of interest on July 1, assuming that interest was not accrued on June 30.
(c) The accrual of interest on December 31.

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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