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Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $900,000 of 25- year, 8% bonds on May 1 of
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $900,000 of 25- year, 8% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year, May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec 31 Recorded accrued interest for two months. Journalize the entries to record the above selected transactions for the current year. May 1 Nov. 1 Dec. 31 Check My Work 10 more Check My Work uses remaining Next>
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