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(1.2 marks) Nabil Company issued $1,500,000 of bonds on January 1, 2020. Instructions Prepare the journal entry to record the issuance of the bonds
(1.2 marks) Nabil Company issued $1,500,000 of bonds on January 1, 2020. Instructions Prepare the journal entry to record the issuance of the bonds if they are issued at 100, 97, and 105. (2.4 marks) Cash d. Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100. (0.4 mark) Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium on Bonds Payable is $15,000. (1.2 marks) no. Prepare the journal entry to record the conversion of the bonds into 50,000 shares of $10 par value common stock. Assume that bonds were issued at par. (1 mark) Hassan Corporation's comparative balance sheets are presented below. HASSAN CORPORATION Comparative Balance Sheets December 31 2020 2019 $27.200 $17.700 24.200 22.300 30,000 Accounts receivable Investme 20,000 Equipment 60,000 70,000 Accumulated depreciation-Equipment (14,000 10000 Total $117,400 $116,000 Accounts payable Bonds payable Common stock Retained earnings Total $19,600 $11,100 10,000 30,000 55,000 45,000 29,900 $117,400 $116.000 Additional information: (t. Net income was $34,300. Dividends declared and paid were $31,400. (2) Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $5,300. (No noncash investing and financing activities occurred during 2020. Instructions
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