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Help Wang Corporation issued the following bonds at a premium Date of issue January 1, 2017 Principal amount: $250,000 Sale price of bonds: 103 Denomination
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Wang Corporation issued the following bonds at a premium Date of issue January 1, 2017 Principal amount: $250,000 Sale price of bonds: 103 Denomination of bonds: $500 Life of bonds: Stated rate: Required Prepare journal entries for: 20 years 8%, payable semiannually on Une 30 and December 31 1. Issuance of the bonds at a premium. 2. Interest payment and premium amortization on the bonds on June Brandon, Inc, issued the following bonds at a discount Date of issue: Principal amount: Sale price of bonds: Denomination of bonds: $1,000 January 1, 2017 $600,000 96 Life of bonds: Stated rate 10 years 7%, payable semiannually on June 30 and December 31 Required Prepare journal entries for: 1. Issuance of the bonds at a discount. 2. Interest payment and discount amortization on the bonds on June 30, 2017 Wang Corporation issued the following bonds at a premium Date of issue January 1, 2017 Principal amount: $250,000 Sale price of bonds: 103 Denomination of bonds: $500 Life of bonds: Stated rate: Required Prepare journal entries for: 20 years 8%, payable semiannually on Une 30 and December 31 1. Issuance of the bonds at a premium. 2. Interest payment and premium amortization on the bonds on June Brandon, Inc, issued the following bonds at a discount Date of issue: Principal amount: Sale price of bonds: Denomination of bonds: $1,000 January 1, 2017 $600,000 96 Life of bonds: Stated rate 10 years 7%, payable semiannually on June 30 and December 31 Required Prepare journal entries for: 1. Issuance of the bonds at a discount. 2. Interest payment and discount amortization on the bonds on June 30, 2017 Step by Step Solution
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