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A company issues 800,000 of 10% bonds (the market rate for the bond is 9.75%) dated...

A company issues 800,000 of 10% bonds (the market rate for the bond is 9.75%) dated 6/1/16 which are due 6/1/26.

interest is paid annually at 6/1. on 5/1/19

the company retired all of these bonds for 802,000 plus accrued interest.

prepare journal entries from 2016 to 2019

Solutions

Expert Solution

The following journal entries will be prepared from 2016 to 2019:

Above figures have been calculated in the following manner:

ekkarill92 answered 1 year ago
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