Return to the Max Industries bond in exercise S9-11. Assume that Max Industries issued the bond on
Question:
a. Issuance of the bonds on July 1, 2014.
b. Accrual of interest expense and amortization of bonds on December 31, 2014. (Use the straight-line amortization method, and round amounts to the nearest dollar.)
c. Payment of the first semi-annual interest amount on January 1, 2015.
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Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT 2014 a July 1 Cash 100...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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