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On January 1, Year 1, Bell Corporation issued $180,000 of 10-year, 6 percent bonds at their face amount. Interest is payable on December 31 of
On January 1, Year 1, Bell Corporation issued $180,000 of 10-year, 6 percent bonds at their face amount. Interest is payable on December 31 of each year with the first payment due December 31 , Year 1. Required: Show the effects of these bonds on the accounting equation for Year 1 and Year 2. Note: Negative amounts should be indicated by a minus sign
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