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34 E14-4 (Entries for Bond Transactions) Foreman Company issued $800,000 of 10%, 20-year bonds on January 1, 2011, at 119.792 to yield 8%. Interest
34 E14-4 (Entries for Bond Transactions) Foreman Company issued $800,000 of 10%, 20-year bonds on January 1, 2011, at 119.792 to yield 8%. Interest is payable semiannually on July 1 and January 1. Instructions Prepare the journal entries to record the following. (a) The issuance of the bonds. (b) The payment of interest and the related amortization on July 1, 2011. (c) The accrual of interest and the related amortization on December 31, 2011.
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th edition
978-1118334331, 1118334337, 978-1119036449, 1119036445, 978-1119036432
