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On January 1, 2023, Jones Corporation issued $2,982,000, 9%, 5-year bonds with interest payable on January 1 and July 1. The bonds sold for
On January 1, 2023, Jones Corporation issued $2,982,000, 9%, 5-year bonds with interest payable on January 1 and July 1. The bonds sold for $2,834,798. The market rate of interest was 11%. Using the effective-interest method, the debit entry to interest expense on July 1, 2023 is (round to the nearest dollar): OA. $134,190 OB. $127,566 OC. $155,914 OD. $164,010
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College Accounting Chapters 1-15
Authors: James Heintz
21st Edition
1285624815, 9781285624815
