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Exercise 10-23 vanhoe Company issued $420 000 7% 15-year bonds on January 1 2017, for ss07, 189. This p ce resulted in an e ective-nterest
Exercise 10-23 vanhoe Company issued $420 000 7% 15-year bonds on January 1 2017, for ss07, 189. This p ce resulted in an e ective-nterest rate of S% on the bonds terest is ps ble annually on January 1 Ivanhoe uses the effect ve interest method to ent ze bond premium or discount. Prepare the schedule using effective-interest method to amortize bond premium or discount of Ivsnhoe Company, (Round answers to 0 decimal places, eg. 125.) Interest I Bond Periods Be Paid Amortization Premiun Carrying Value toBe Recorded ssuc date Prepare the ??urnal entry to record the ssuance of the bonds. (Round answers to 0 decinal places, e g 5,275. Credit account titles are automatically rnc ented when dmount is entered. Do not rndent manually.) Date Account Titles and Lxplanation Debit Credit Jan. 1, 2017 Prepare the ou na entry to record the accrual o interest and the prem um amort zation on December 31, 2017 Raun answers to O decl al places e.g. 5 75 e taccount t es are ??tomatica yin dented when a no antis entered. Do not ind ent manu NV- Date Account Titles and Explanation Debit Credit Dec 31, 2017 Prepare the journal entry to record the payment of interest on January 1, 2018.(Round ansiwers to 0 decimal places, e.g. 5,275. Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2018
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