Question
On October 1, 2024 grouper corp issued a 792000 5% 10-year bond at face value. the bonds were dated October 1, 2024, and pay interest
On October 1, 2024 grouper corp issued a 792000 5% 10-year bond at face value. the bonds were dated October 1, 2024, and pay interest annually on October 1. Financial statements are prepared annually on December 31 prepare the journal entry to record the payment of interest on October 1, 2025
Date Account titles debit credit
October 1 Interest expense ? ?
Interest Payable ? ?
cash ? ?
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
1st Extended Canadian Edition
1118878418, 9781118878415
