On January 1 Montana Company issued $100,000, 10%, 10-year bonds at face value. Interest is payable semiannually
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On January 1 Montana Company issued $100,000, 10%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Interest is not accrued on June 30.
Instructions Prepare journal entries to record these events:
(a) The issuance of the bonds.
(b) The payment of interest on July 1.
(c) The accrual of interest on December 31.
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9780471347743
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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