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Question 8 (Bond issued at premium) Assume the same facts as question 7 expect the bonds were issued for $644,636 and the effective interest rate

Question 8 (Bond issued at premium)

Assume the same facts as question 7 expect the bonds were issued for $644,636 and the effective interest rate is 6%. Prepare the companys journal entries for (a) the January issuance, (b), the July 1 interest payment, and (c) the December 31 adjusting entry.

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Accounting Tools For Business Decision Making

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