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The Square Foot Grill, Inc., issued $200,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on
The Square Foot Grill, Inc., issued $200,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization.
b. | Prepare the liabilities section of the balance sheet at the end of 2016 and 2017. (Amounts to be deducted should be indicated with minus sign.) |
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