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Instructions Chowan Corporation issued $132.000 of 8% bonds dated January 1, 2019, for $127,646 72 on January 1, 2019. The bonds are due December
Instructions Chowan Corporation issued $132.000 of 8% bonds dated January 1, 2019, for $127,646 72 on January 1, 2019. The bonds are due December 31, 2022, were issued to yield 9%, and pay interest semiannually on June 30 and December 31 Chowan uses the effective interest method of amortization Required: Prepare the journal entries to record the issue of the bonds on January 1, 2019, and the interest payments on June 30, 2019, December 31, 2019, and June 30, 2020. In addition, prepare a bond interest expense and discount amortization schedule for the bonds through June 30, 2020 Prepare the journal entries to record the issue of the bonds on January 1, 2019, and the interest payments on June 30, 2019, December 31, 2019, and June 30, 2020. General Journal Instructions PAGE 2019 PAGE 2020 GENERAL JOURNAL DATE ACCOUNT TITLE POST REF DEBIT CREDIT Analysis Prepare a bond interest expense and discount amortization schedule for the bonds through June 30, 2020 Analysis Instruction
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