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Current Attempt in Progress Grouper Company issued $648,000 of 10%, 20 year bonds on January 1, 2020, at 104. Interest is payable semiannually on July
Current Attempt in Progress Grouper Company issued $648,000 of 10%, 20 year bonds on January 1, 2020, at 104. Interest is payable semiannually on July 1 and January 1. Grouper Company uses the straight line method of amortization for bond premium or discount. Prepare the journal entries to record the following the entry is required, select "No Entry for the accountities and enter for the amounts Credit account titles are automatically indeed when amount is entered. Do not indent manually.) (a) The Issuance of the bonds. (b) The payment of interest and the related amortization on July 1, 2020 Ic) The accrual of interest and the related amortization on December 31, 2020 Credit Date Debit Account Titles and Explanation 1/1/206 7/1/20 (b) The payment of interest and the related amortization on July 1, 2020. (c) The accrual of Interest and the related amortization on December 31, 2020. Date Account Titles and Explanation Debit Credit 1/1/20 7/1/20 12/31/20
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