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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 57
(Supplement 10C) Recording the Effects of a Premium Bond Issue and First Interest Period (Simplified Effective-interest Amortization)
Refer to the information in E10-9 and assume Grocery Corporation accounts for the bond using the shortcut approach shown in Chapter Supplement 10C.
Required:
1. Prepare the journal entry to record the bond issuance.
2. Prepare the journal entry to record the interest payment on December 31, 2012.
Refer to the information in E10-9 and assume Grocery Corporation accounts for the bond using the shortcut approach shown in Chapter Supplement 10C.
Required:
1. Prepare the journal entry to record the bond issuance.
2. Prepare the journal entry to record the interest payment on December 31, 2012.
Explanation
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1.
The journal entry to record...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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