Question
Fresco Furniture purchased a $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid annually on June 30. The straight line
Fresco Furniture purchased a $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid annually on June 30. The straight line method of amortization is used for both premiums and discounts. Use this information to prepare the General Journal entry for the June 30, 2016.
| Date | Accounts | Debt | Credit |
| June 30, 2016 | |||
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Accounting For Beginners
Authors: Warren Piper Ruell
1st Edition
1713479397, 978-1713479390
