Question
O n J une 1, 2014 , D a y C o. r e c e i v e d $ 10 3 ,288 for
On June 1, 2014, Day Co. received $103,288 for $100,000 face amount, 12% bonds, a price that yields 10%. Assuming management does not elect the fair value option, prepare the adjusting entry for December 31, 2014. If no entry is necessary, write "no entry." Round all values to the nearest dollar.
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Study Guide To Accompany Financial Accounting In An Economic Context
Authors: Jamie Pratt
6th Edition
0471731110, 978-0471731115
