On April 1, 2017, a corporation issued $3,000,000, 8%, 10-year bonds at 95. The bonds pay interest
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On April 1, 2017, a corporation issued $3,000,000, 8%, 10-year bonds at 95. The bonds pay
interest each October 1 and April 1 and the corporation uses the straight-line method to
amortize premium or discount. Prepare entries for the issue of the bonds, for the first interest
payment on October 1, for the adjusting entry on December 31 and interest payment on April 1.
B). On April 1, 2017, a corporation issued $3,000,000, 8%, 10-year bonds at 106. The bonds pay
interest each October 1 and April 1 and the corporation uses the straight-line method to
amortize premium or discount. Prepare entries for the issue of the bonds, for the first interest
payment on October 1, for the adjusting entry on December 31 and interest payment on April 1.
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