Question
Exercise 15-02 a-c On January 1, 2020, Wildhorse Company issued $470,000,13%, 10-year bonds at face value. Interest is payable annually on January 1. Prepare the
Exercise 15-02 a-c
On January 1, 2020, Wildhorse Company issued $470,000,13%, 10-year bonds at face value. Interest is payable annually on January 1.
Prepare the journal entry to record the issuance of the bonds.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2020
SHOW LIST OF ACCOUNTS
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Prepare the journal entry to record the accrual of interest on December 31, 2020.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2020
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the journal entry to record the payment of interest on January 1, 2021.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2021
SHOW LIST OF ACCOUNTS
LINK TO TEXT
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
9th edition
1-119-49356-3, 1119493633, 1119493560, 978-1119493631
