Question
On August 1, 2017, Ayayai Corp. issued $506,400,7%,10-year bonds at face value. Interest is payable annually on August 1. Ayayai's year-end is December 31. (a)The
On August 1, 2017, Ayayai Corp. issued $506,400,7%,10-year bonds at face value. Interest is payable annually on August 1. Ayayai's year-end is December 31.
(a)The issuance of the bonds. (b)The accrual of interest on December 31, 2017.(c)The payment of interest on August 1, 2018.
Cash = Bonds Pay + Interest Pay + Common Stock + Revenue - Expense -Dividend
(a) Aug.1, 2017 (b) Dec. 31, 2017 (c) Aug. 1, 2018
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
