Issuance of Bonds} APL Enterprises required an infusion of cash in order to purchase a large piece

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Issuance of Bonds}

APL Enterprises required an infusion of cash in order to purchase a large piece of equipment. To finance its equipment purchase, APL issued $\$ 3,600,000$ of $8 \%$ bonds payable.

\section*{Required:}

Prepare the necessary journal entries to record the issuance of the bonds, assuming the bonds were issued

(a) at face value,

(b) at 102 , and

(c) at 97 .

\section*{Brief Exercise

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Cornerstones Of Financial Accounting

ISBN: 9780176707125

2nd Canadian Edition

Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone

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Question Posted: Jun 10, 2024 01:08 AM

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Issuance of Bonds} APL Enterprises required an infusion of cash in order to purchase a large piece

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Cornerstones Of Financial Accounting

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