Question
A Company issued $480,000 of 7% bonds on January 1. Interest is payable semiannually on July 1 and January 1. The bonds are issued at
A Company issued $480,000 of 7% bonds on January 1. Interest is payable semiannually on July 1 and January 1. The bonds are issued at face value. . The journal entry on June 30 should include : Show your work
A debit to Interest Payable for $480,000 x .07.
A credit to Interest Payable for $480,000 x .07.
A debit to Interest Payable for $480,000 x .07 x 6/12.
A credit to Interest Payable for $480,000 x .07 x 6/12.
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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian Edition volume 2
013269008X, 978-0133122855, 133122859, 978-0132690089
