Essay
On August 1,a company issues 6%,10 year,$600,000 par value bonds that pay interest semiannually each February 1 and August 1.The bonds sold at $632,000.The company uses the straight-line method of amortizing bond premiums.The company's year-end is December 31.Prepare the general journal entry to record the interest accrued at December 31.
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Interest payable = $600,000 *...View Answer
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Correct Answer:
Verified
Interest payable = $600,000 *...View Answer
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