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FINANCIAL ACCOUNTING II The Samson Corporation's fiscal year is December 31. On July 1, 2016, Samson authorized $1,000,000 of six-percent, 8-year debentures, which will Awopay
FINANCIAL ACCOUNTING II The Samson Corporation's fiscal year is December 31". On July 1, 2016, Samson authorized $1,000,000 of six-percent, 8-year debentures, which will Awopay interest annually on each June 30". On November 30, 2017, Samson issued half of the bonds, at a discount of $27,650, in return for cash and a building appraised at $240,000. On March 1, 2019, Samson paid all interest due to date and then called one-half of the bonds, paying each investor $1,200 for each bond held, and converted the remaining bonds into 2,000 shares of Samson's $100 par value preferred stock . Prepare all the journal entries related to the bonds for the period July 1, 2016 November 30, 2017 and March 1, 2019. FINANCIAL ACCOUNTING II The Samson Corporation's fiscal year is December 31". On July 1, 2016, Samson authorized $1,000,000 of six-percent, 8-year debentures, which will Awopay interest annually on each June 30". On November 30, 2017, Samson issued half of the bonds, at a discount of $27,650, in return for cash and a building appraised at $240,000. On March 1, 2019, Samson paid all interest due to date and then called one-half of the bonds, paying each investor $1,200 for each bond held, and converted the remaining bonds into 2,000 shares of Samson's $100 par value preferred stock . Prepare all the journal entries related to the bonds for the period July 1, 2016 November 30, 2017 and March 1, 2019
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