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Hello, I would really appreciate if someone helped me with these two questions ~ I will give a good rating! Exercise 10-15 The adjusted trial
Hello, I would really appreciate if someone helped me with these two questions ~ I will give a good rating!
Exercise 10-15 The adjusted trial balance for Pina Colada Corp. at the end of the current year contained the following accounts. Interest Payable Bonds Payable, due 2024 Premium on Bonds Payable $14,000 175,000 35,000 Prepare the long-term liabilities section of the balance sheet. (Enter account name only and do not provide descriptive information.) Pina Colada Corp. Balance Sheet . Exercise 10-09 (Video) On January 1, 2020, Monty Corp. issued $562,000, 15%, 10-year bonds at face value. Interest is payable annually on January 1. (a) 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 (b) 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 (c) 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. 1Step by Step Solution
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