Question
Taylor Corporation issued $2 million, 10-year, 8% bonds on January 1, 2011. Instructions: Prepare the entries to record the sale of these bonds and the
| Taylor Corporation issued $2 million, 10-year, 8% bonds on January 1, 2011. Instructions: Prepare the entries to record the sale of these bonds and the first semi-annual payment of interest, assuming they were issued at the following. Use the effective interest method of amortization of the discount or premium. (a) 93.5, with an effective rate of 9%. (b) 107.1, with an effective rate of 7%. |
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a Issued at 935 with an effective rate of 9 1 To record the sale of bonds Cash Discount on Bonds Pay...
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
