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The following events occurred during the first half of the year. Book the entries necessary for the corresponding transactions that have occurred. January 2 2
The following events occurred during the first half of the year. Book the entries necessary for the corresponding transactions that have occurred.
January : Issued $ of term bonds due on January periods with interest payable each June and December Investors require an effective interest rate of Record the entries for issuance of the bond.
February : A new longterm lease is entered into for extra storage space for the new product line of ink cartridges. The net present value of the future lease payments is $ The lease is for two years at $ per month beginning March
March : A longterm note for $ was taken out from the bank. The loan is for two years with an interest rate of repayable at maturity.
April : New equipment was purchased to make printers for $ Use straight line depreciation assuming a year life, with no residual value. Use full years depreciation for the first year.
April : shares of common stock with a $ par value were sold for $ per share.
May : Paid cash dividends to stockholders of $
June : Purchased shares of the companys stock at $ per share.
June : Book the depreciation for the first half of the year on the printer equipment purchased April
June : Book the interest for the first half of the year on the loan you took out on March
June : Book the interest payment and amortization on discount for bond.
June : Paid the rent expense for the first half of the year in cash.
June : Book the service revenue of $ for the first half of the year paid in cash.
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