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CJ Company issues a $100,000 9-month note on October 1, 2019. The bond interest rate is 8 percent and the note pays the interest at
- CJ Company issues a $100,000 9-month note on October 1, 2019. The bond interest rate is 8 percent and the note pays the interest at maturity. On February 15, CJ CO. discovers that it had not accrued interest at its fiscal year end (December 31). CJ is not required to accrue interest at its fiscal year end under the Internal Revenue Code.
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Principles Of Accounting
Authors: Steven M. Bragg
1st Edition
1642210773, 978-1642210774
