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On January 1, 2021, Frontier World issues $4 million of 9% bonds, due in 6 years, with Interest payable semiannually on June 30 and
On January 1, 2021, Frontier World issues $4 million of 9% bonds, due in 6 years, with Interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, water ride, dark tunnel, and the great smell of outdoor barbeque, all in one ride. If the market rate is 8%, calculate the issue price of the bonds. Sizzle Company provides snow removal services to its customers in the Denver area. The company's policy is to provide services and then bill customers at the end of every month. During December, the company provided services of $135,000 and plans to bill their customers on December 31, which is also the company's year-end. What adjusting entry, if any, will the company record on December 31st? O Debit Deferred Snow Removal Revenue $135,000; credit Snow Removal Revenue $135,000 Debit Accounts Receivable $135,000; credit Deferred Snow Removal Revenue $135,000 O No adjusting entry required. O Debit Snow Removal Revenue $135,000; credit Accounts Receivable $135,000 O Debit Accounts Receivable $135.000; credit Snow Removal Revenue $135.000
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