Question
On August 1, 2010, a company issues bonds with a par value of $600,000. The bonds mature in 10 years and pay 6% annual interest,
On August 1, 2010, a company issues bonds with a par value of $600,000. The bonds mature in 10 years and pay 6% annual interest, payable each February 1 and August 1. The bonds sold at $592,000. The company uses the straight-line method of amortizing bond discounts. The company's year-end is December 31.
Prepare the general journal entry to record the interest accrued at December 31, 2010.
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Guidelines For Laboratory Quality Auditing
Authors: Donald C. Singer, Ronald P. Upton
1st Edition
0824787846, 978-0824787844
