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Stellar Corporation issued $550,000 of 7% bonds on November 1, 2017, for $584,545. The bonds were dated November 1, 2017, and mature in 8 years,
Stellar Corporation issued $550,000 of 7% bonds on November 1, 2017, for $584,545. The bonds were dated November 1, 2017, and mature in 8 years, with interest payable each May 1 and November 1. Stellar uses the effective-interest method with an effective rate of 6%.
Record Journal entries for issuance on November 1 and
Record Jorunal entries for December 31, 2017, adjusting entry.
Record Journal entries for interest payable each May 1 2018
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