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Assume that the following are independent situations recently reported in the Wall Street Journal. 1. General Electric (GE) 7% bonds, maturing January 28, 2018, were
Assume that the following are independent situations recently reported in the Wall Street Journal. 1. General Electric (GE) 7% bonds, maturing January 28, 2018, were issued at 111.60. 2, Boeing 7% bonds, maturing September 24, 2032, were issued at 98.80. Were GE and Boeing bonds issued at a premium or a discount? The General Electric and the Boeing bonds were issued at a bonds were issued at a SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $760,000 of bonds in total. Do not indent manually.) Debit No. Account Titles and Explanation Credit
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