Question
On April 1, 2013, Quirk issued $800,000, 9% bonds for $860,589 including accrued interest. Interest is payable annually on January 1, and the bonds mature
On April 1, 2013, Quirk issued $800,000, 9% bonds for $860,589 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2023.
Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co?
Issuance of Bond
Interest 12/31/2014
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Financial Accounting And Reporting A Global Perspective
Authors: Herv Stolowy, Yuan Ding
5th Edition
1473740207, 978-1473740204
