Graphic World is authorised to issue (1,800,000) in bonds on June 1. The bonds carry a face

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Graphic World is authorised to issue \(1,800,000\) in bonds on June 1. The bonds carry a face interest rate of 9 per cent, which is to be paid on June 1 and December 1 .

Prepare journal entries for the issue of the bonds by Graphic World under the assumptions that

(a) the bonds are issued on September 1 at 100 and

(b) the bonds are issued on June 1 at 105 .

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Financial Accounting A Global Approach

ISBN: 9780395839867

1st Edition

Authors: Sidney J. Gray, Belverd E. Needles

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