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1. FORSHOW DRESS FOR SUCCESS sold $200,000 of 8% 8 year bonds for face value on April 1, 2024 instead of on January 1, 2024.
1. FORSHOW DRESS FOR SUCCESS sold $200,000 of 8% 8 year bonds for face value on April 1, 2024 instead of on January 1, 2024. The Co. pays interest on January 1 and July 1 each year.
| a. Prepare the journal entries to record the sale of the bonds on April 1, 2024 | |||||||||
| b. Prepare the journal entry to record the first semi-annual interest payment on July 1, 2024 | |||||||||
| c. Show the bond interest expense in T account form on July 1, 2024 | |||||||||
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Managerial Accounting Special Edition For California State University Los Angeles
Authors: Garrison
14th Edition
0077519973, 978-0077519971
