Accounting for bonds (Learning Objective 5) 1520 min. Rigby Corporation issued 6%, 15-year bonds payable with a
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Accounting for bonds (Learning Objective 5) 15–20 min.
Rigby Corporation issued 6%, 15-year bonds payable with a maturity value of $850,000 on May 31. The bonds were issued at par and pay interest on May 31 and November 30.
Requirements 1. Record the issuance of the bonds on May 31.
2. Record the payment of interest on November 30 and accrual of interest on December 31.
AppendixLO1
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Related Book For 
Financial Accounting
ISBN: 9781292019543
3rd Global Edition Edition
Authors: Robert Kemp, Jeffrey Waybright, Pearson Education
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