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Need help with problem 271 Ex. 264 Flores Company publishes a monthly soort magazine coss..^- Ex. 271 On January 1, 2015, Focus Corporation issued $600,000,
Need help with problem 271
Ex. 264 Flores Company publishes a monthly soort magazine coss..^- Ex. 271 On January 1, 2015, Focus Corporation issued $600,000, 6%, 5-year bonds at face value. Interest is payable annually on January 1 Instructions Prepare journal entries to record the (a) Issuance of the bonds. (b) Accrual of intrest on December 31 (c) Payment of interest on January 1, 2016. Direc rens, COMPLETE TItE SPAces ere u (a) Cash... Bonds Payable. . (b) Interest Expense Interest Payable... 400,000 X 6% X (c) Interest Payable Cash Step by Step Solution
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