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help! On October 1, 2024, Ayayai Corp. issued $732,000.8%,10-year bonds at face value. The bonds were dated October 1. 2024. and pay interest annually on
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On October 1, 2024, Ayayai Corp. issued $732,000.8%,10-year bonds at face value. The bonds were dated October 1. 2024. and pay interest annually on October 1. Financial statements are prepared annually on December 31 Your answer is correct Prepare the joumal entry to record the issuance of the bonds. (List all debit entries before credit entries, Credit account titles are automatically indented when amount is entered. Do not indent monually if no entry is required, select "No Entry' for the eccount titles and enter O for the amounts.) Show the balance sheet presentation of bonds payable and bond interest payable on December 31,2024. Prepare the adjusting entry to record the accrual of interest on December 31. 2025. (List all debit entries before credit entries. Credlt occount titles ore automatically indented when amount is entered Do not indent manually. H no entry is required, select "No Entry" for the account etles and enter Ofor the anounts) Assume that on January 1, 2026. Ayayai pays the accrued bond interest and calls the bonds. The call price is 104. Record the payment of interest and redemption of the bonds, Aist all debit entries before credit entries. Credit ocoount titles are outomatically indented when amount is entered. Do not indent manually If no entry is required, select "No Entry" for the occount tities and enter O for the amounts Step by Step Solution
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