Question
On May 1, 2019, Herron Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2019, and pay interest annually
On May 1, 2019, Herron Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2019, and pay interest annually on May 1. Financial statements are prepared annually on December 31.
Prepare the journal entry to record the issuance of the bonds
Prepare the adjusting entry to record the accrual of interest on December 31, 2019.
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Value Based Management For Accounts Receivable
Authors: Kimberly Don Ketron
1505911184, 978-1505911183
