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Bangles Corporation issued 5-year, 11% bonds with a face value of $300,000 on April 1, 2019. Assume that the bonds are sold for $318,000. Interest
Bangles Corporation issued 5-year, 11% bonds with a face value of $300,000 on April 1, 2019. Assume that the bonds are sold for $318,000. Interest is paid semiannually at October 1 and April 1. Required: Prepare the journal entries to record the issuance on April 1, 2019 and the first interest payment on October 1, 2019. Use the straight-line method to amortize the premium
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Sure here are the journal entries 1 April 1 2019 Issuance Cash proceeds from bond issuance 318000 ...
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
15th edition
1259994975, 125999497X, 1259631117, 978-1259631115
