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Grodski Co. produces and distributes semiconductors for use by computer manufacturers. Grodski Co. issued $240,000 of 15-year, 12% bonds on May 1 of the current
Grodski Co. produces and distributes semiconductors for use by computer manufacturers. Grodski Co. issued $240,000 of 15-year, 12% bonds on May 1 of the current year, with interest payable on May 1 and November 1. the fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the entries to record the above selected transactions for the current year
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