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(Solved): Use the above straight-line bond amortization table and prepare journal entries for the fo ...
Use the above straight-line bond amortization table and prepare journal entries for the following. Required: (a) The issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31. (c) Record the maturity of the bonds on December \( 31,2021 \).
Expert Answer
(a) Date Account Titles Debit Credit 12/31/2019 Cash $95,960 Discount on Bonds Payable $6,040 Bonds Payable $102,000 (To record issue of bonds for cas