Journalize the following transactions: 1. Issued three $35,000, 8% bonds that mature in 12 years at face

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Journalize the following transactions:

1. Issued three $35,000, 8% bonds that mature in 12 years at face value on May 1.

2. Paid semiannual interest on October 31.

3. Bonds retired at end of 12 years.

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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