Question
40. On January 1, 2019, a company issued $5,000,000 of 8 percent bonds at par. These bonds are due in five years with interest payable
40. On January 1, 2019, a company issued $5,000,000 of 8 percent bonds at par. These bonds are due in five years with interest payable annually on December 31. Required:
| A) | Record the issuance of the bonds. |
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| B) | Record the journal entry needed on December 31, 2019. |
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| C) | Record the journal entry needed on January 1, 2024. |
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
