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The Monty Company issued $420.000 of 13% bonds on January 1, 2020. The bands are due January 1, 2025, with interest payable each July 1
The Monty Company issued $420.000 of 13% bonds on January 1, 2020. The bands are due January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Monty's journal entries for (a) the January issuance, (b) the July 1 interest payment and (c) the December 31 adjusting entry. Of no entry is required, select "No Entry for the accourg titles and enter for the amounts. Credit account titles are automatically Indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Cred Debit Ka (b Ic)
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