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Suppose Scotiabank issued a five-year $15,000 bond with a stated interest rate o the market interest rate was Assume that the accounting year of
Suppose Scotiabank issued a five-year $15,000 bond with a stated interest rate o the market interest rate was Assume that the accounting year of Scotiabank ends on June 30. Joumalice the following mansactions, including an explanation Issuance of the bond payable on January 1, 2020 Accrual of inwest expers on June 30, 2020 (rounded to the nearest dollar) Payment of cash interest on July 1, 2020 d. Payment of the bonds at maturity give the date Joumalize the issuance of the bond payable on January 1, 2020 Record debits first, then credits. Enter explanations on the last line) Date Jan 1, 2020 Accounts and Explanations Debit Credit Joumale the accrual of interest expense on June 30, 2000 rounded to the nearest D Jun 30, 2020 Accounts and Explanations Joule the payment of cash intered on July 1, 2000 Cate My 1,2020 Accounts and Explanations Debt Credit Dubl Credit
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