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Donald Corporation issued 9 percent, 20-year bonds payable with a maturity value of $500,000 on May 31. The bonds were issued at par and pay
Donald Corporation issued 9 percent, 20-year bonds payable with a maturity value of $500,000 on May 31. The bonds were issued at par and pay interest on May 31 and November 30. Record (a) issuance of the bonds on May 31, (b) payment of interest on November 30, and (c) accrual of interest on December 31. (Record debits first, then credits. Exclude explanations from any joumal entries.) a. Record the issuance of the bonds on May 31. Journal Entry Accounts Debit Credit Date May 31 b. Record the payment of interest on November 30. Journal Entry Date Accounts Debit Credit Nov 30 c. Record the accrual of interest December 31. Journal Entry Accounts Date Debit Credit Dec 31 Choose from any list or enter any number the input fields and then continue to the next
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