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need to solve question 1 all four journal entry and and 2 question The board of directors of Media Electronics authorizes the issue of $6,000,000
need to solve question 1 all four journal entry and and 2 question
The board of directors of Media Electronics authorizes the issue of $6,000,000 of 5%, 15-year bonds payable. The semiannual interest dates are May 31 and November 30 The bonds are issued on May 31 2019, at par Requirements 1. Journalize the following transactions a. Issuance of the bonds on May 31, 2019 b. Payment of interest on November 30, 2019 c. Accrual of interest on December 31, 2019 d. Payment of interest on May 31, 2020 2. Report interest payable and bonds payable as they would appear on the Media Electronics balance sheet at December 31, 2019Step by Step Solution
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