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Assume that the following are independent situations recently reported in the Wal Street Journal. 1. General Electric (GE) 7% bonds, maturing January 28, 2018, were
Assume that the following are independent situations recently reported in the Wal Street Journal. 1. General Electric (GE) 7% bonds, maturing January 28, 2018, were issued at 1 10.70. Boeing 7% bonds, maturing September 24, 2032, were issued at 98.35. 2, Were GE and Boeing bonds issued at a premium or adiscount? The General Electric bonds were issued at a and the Bocing bonds were issued at a eTextbook and Media List of Accounts Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $670,000 of bonds in total. (Credit account tities are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Accounts Payable Accounts Rcccivable Accumulated Depreciation-Equipment Accrued Pension Liability Bonds Payable Buildings Cash Common Stock Cost of Goods Sold Current Portion of Long-Term Debt Discount on Bonds Payable Dividends Equipment Federal Income Taxes Payable Federal Unemployment Taxes Payable FICA Taxes Payable
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