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Please help I will give thumbs up! Thanks. Wibur Company borrowed money by issuing $1,500,000 of 6% bonds payable at 102.6 on July 1,2021 .
Please help I will give thumbs up! Thanks.
Wibur Company borrowed money by issuing $1,500,000 of 6% bonds payable at 102.6 on July 1,2021 . The bonds are five-year bonds and pay interest each January 1 and July 1. Read the requirements. 1. How much cash did Wibur recelve when it issued the bonds payable? Journalize this transaction. When it issued the bonds payable, Wibur received Requirements 1. How much cash did Wibur receive when it iasued the bonds payable? Journalize this transaction. 2. How much must Wilbur pay back at maturity? When is the maturity date? 3. How much cash interest will Wilbur pay each sibe months? 4. How much interest expense wil Wibur report each six months? Use the straight-line amortization method. Joumalize the entries for the accrual of interest and the amortization of peemium on December 31, 2021, and payment of interest on January 1,2022 Step by Step Solution
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