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Face of bonds Term - 10 years 800,000 Annual interest rate - 3% Bonds sold on 2/1/20 Record the following in T accounts: 1.
Face of bonds Term - 10 years 800,000 Annual interest rate - 3% Bonds sold on 2/1/20 Record the following in T accounts: 1. Sale of bonds on 2/1/20 2. First interest payment 3. 12/31/20 accrual 4. Second interest payment 12,000 10,000 800000*0.03*(5/12)
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
