Question
Alpha Company purchased a $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid semi-annually on June 30. The straight line
Alpha Company purchased a $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid semi-annually on June 30. The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the adjusting General Journal entry (without explanation) for the December 31, 2017. If no entry is required then write "No Entry Required."
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
6th Edition
0273638335, 978-0273638339
