Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method
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On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannualy were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year: (a) Issuance of the bonds (b) First semiannual interest payment (c) Amoritization of bond discount for the year, using the straight-line method of amortization.
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Your tutorial is attached in Excel. Click in cells to see computations. Instructional notes are left for you.
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Your tutorial is attached in Excel. Click in cells to see computations. Instructional notes are left for you.
The discount on ...
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