Question
Assume that the following are independent situations recently reported in the Wall Street Journal . 1. General Electric (GE) 7% bonds, maturing January 28, 2023,
Assume that the following are independent situations recently reported in the Wall Street Journal.
1. | General Electric (GE) 7% bonds, maturing January 28, 2023, were issued at 110.00. | |
2. | Boeing 7% bonds, maturing September 24, 2037, were issued at 98.00. |
(c)
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 titles are automatically indented when amount is entered. Do not indent manually.)
No. | Account Titles and Explanation | Debit | Credit |
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1 | enter an account title to record the issue of the General Electric bondsenter an account title to record the issue of the General Electric bonds |
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enter an account title to record the issue of the General Electric bondsenter an account title to record the issue of the General Electric bonds |
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enter an account title to record the issue of the General Electric bondsenter an account title to record the issue of the General Electric bonds |
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2 | enter an account title to record the issue of the Boeing bondsenter an account title to record the issue of the Boeing bonds |
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enter an account title to record the issue of the Boeing bondsenter an account title to record the issue of the Boeing bonds |
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enter an account title to record the issue of the Boeing bondsenter an account title to record the issue of the Boeing bonds |
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