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Additional Problem 7 (Part Level Submission) Swifty Ltd. sold $6,810,000 of 12% bonds, which were dated March 1, 2017, on June 1, 2017, The bonds
Additional Problem 7 (Part Level Submission) Swifty Ltd. sold $6,810,000 of 12% bonds, which were dated March 1, 2017, on June 1, 2017, The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2027, and the bonds were issued to yield 14%. Swifty's fiscal year-end was February 28, and the company followed IFRS. On June 1, 2018, Swifty bought back $2,810,000 worth of bonds for $2,710,000 plus accrued interest. ? (a) Prepare the entry for the issuance of the bonds. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 0 of 4 used SAVE FOR LATER S SUBMIT
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