Question
The Colson Company issued $300,000 of 10% bonds on January 1, 2015. The bonds are due January 1, 2020, with interest payable each July 1
The Colson Company issued $300,000 of 10% bonds on January 1, 2015. The bonds are due January 1, 2020, with interest payable each July 1 and January 1.
1) Assume the bonds were issued at 108.11 to yield 8%,
Prepare the journal entries for (a) January 1, (b) July 1, (c) December 31.
2) Assume the bonds were issued at 92.6393 to yield 12%
Prepare the journal entries for (a) January 1, (b) July 1, (c) December 31.
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
3rd Edition
0730364577, 978-0730364573
