On January 1, Flory Company issued $300,000, 8%, 5-year bonds at face value. Interest is payable semiannually

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On January 1, Flory Company issued $300,000, 8%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1.

Instructions

Prepare journal entries to record the following events.

(a) The issuance of the bonds.

(b) The payment of interest on July 1, assuming no previous accrual of interest.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

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

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Question Posted: Sep 13, 2011 08:40 AM

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On January 1, Flory Company issued $300,000, 8%, 5-year bonds at face value. Interest is payable semiannually

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a Jan 1 Cash 300000 Bonds Payable 3000...View the full answer

Accounting Principles

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