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Please complete all components of the problem and show your work! THANKS! On October 1, 2021, Tamarisk, Inc. issued $ 280,000, 12%, 10-year bonds at
Please complete all components of the problem and show your work! THANKS!
On October 1, 2021, Tamarisk, Inc. issued $ 280,000, 12%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31. 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.) Date Account Titles and Explanation Debit Credit Oct. 1, 2021 e Textbook and Media List of Accounts Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31, 2021 Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2021. (Enter account name only and do not provide descriptive information.) Tamarisk, Inc. Balance Sheet $Step by Step Solution
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