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Please check the filled blanks as well as fill the unfilled ones. thank you :) Splish Brothers Inc. issued $534,500 of 5-year, 9% bonds at
Please check the filled blanks as well as fill the unfilled ones. thank you :)
Splish Brothers Inc. issued $534,500 of 5-year, 9% bonds at 95 on January 1, 2020. The bonds pay interest annually. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 507775 Discount on Bonds Payable 26725 Bonds Payable 534500 List of Accounts Compute the total cost of borrowing for these bonds. Total cost of borrowing $ 267250 Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 103. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash Premium on Bonds Payable Bonds Payable List of Accounts Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 103. Total cost of borrowingStep by Step Solution
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