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Bonds Issued at a Discount Brenner's Home Club issued the following bonds at a discount: Date of issue and sale: April 1, 20-1 Principal amount:
Bonds Issued at a Discount Brenner's Home Club issued the following bonds at a discount: Date of issue and sale: April 1, 20-1 Principal amount: $500,000 Sale price of bonds: 98 Denomination of bonds: $1,000 W Life of bonds: 10 years Stated rate: 7%, payable semiannually on September 30 and March 31 1. Prepare journal entries for: a. Issuance of the bonds at a discount. b. Interest payment and discount amortization on the bonds on September 30. c. Year-end adjustment on the bonds. If an amount box does not require an entry, leave it blank
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