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( i need Unique answer, don't copy and paste, please) (dont' use handwriting, please). Q1: On January 1, 2017, Candlestick, Inc. sells $100,000, five-year, 10

( i need Unique answer, don't copy and paste, please) (dont' use handwriting, please).

Q1: On January 1, 2017, Candlestick, Inc. sells $100,000, five-year, 10 % bonds for 92.639% of face value. On the other hand the same company sells 108.111% of face value on July 1, 2017. Pass the necessary journal entry for issuance of bonds.

Q2:

A company is authorized to issue 800,000 shares of $6 par value common stock. Prepare journal entries to record the following selected transactions that occurred during the company's first year of operations:

March. 8

Sold 110,000 shares of common stock for $9 cash per share.

March 12

Exchanged 12,000 shares of common stock for equipment with a market value of $90,000.

Q3:

Use the following calendar-year information to prepare Ibrahim Company's statement of cash flows using the direct method:

Cash paid to purchase machinery

$ 124,000

Cash paid for merchandise inventory

220,000

Cash paid for operating expenses

280,000

Cash paid for interest

4,000

Cash received for interest

10,000

Cash proceeds from sale of land

100,000

Cash balance at beginning of year

15,000

Cash balance at end of year

77,000

Cash borrowed on a short-term note

25,000

Cash dividends paid

24,000

Cash received from stock issuance

57,000

Cash collections from customers

522,000

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