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On January 1, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Prepare journal
On January 1, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1.
Prepare journal entries to record the following events.
A. The issuance of the bonds.
B. The payment of interest on July 1, assuming no previous accrual of interest.
C. The accrual of interest on December 31
E10-11 Date (a) 2 Jan. 1 6 July 1 10 (c) 11 Dec. 31 13 15 16 Page 526 Account Titles Debit Credit 10 11 15Step by Step Solution
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