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On January 1, 2025, Bramble Corporation issued $1,789,000 face value, 8%, 10-year bonds for proceeds of $2,052,344. This price resulted in an effective-interest rate of
On January 1, 2025, Bramble Corporation issued $1,789,000 face value, 8%, 10-year bonds for proceeds of $2,052,344. This price resulted in an effective-interest rate of 6% on the bonds. The bonds pay annual interest, each January 1 and Bramble has a calendar year end. (a) Your answer is partially correct. Prepare the journal entry to record the issue of the bonds on January 1, 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Jan. 1, 2025 Account Titles Cash Bonds Payable eTextbook and Media List of Accounts Debit Credit
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