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Pharoah Company issued $450,000 of 9%, 20-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1. Prepare a tabular
Pharoah Company issued $450,000 of 9%, 20-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1. Prepare a tabular summary to record the following events.
| (a) | The issuance of the bonds. | |
| (b) | The accrual of interest on December 31, 2017. | |
| (c) | The payment of interest on January 1, 2018. | |
| (d) | The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. |
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