Problem 10-5A Malcolm Company sold $6,000,000, 7%, 15-year bonds on January 1, 2017. The bonds were...
Problem 10-5A Malcolm Company sold $6,000,000, 7%, 15-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on December 31. The bonds were sold at 98. Prepare the journal entry to record the issuance of the bonds on January 1, 2017
Homework Answers
Jounal entry for issuance of bonds
Jan 01, Cash a/c debit $ 5,880,000
Discount on issue of bonds a/c debit $120,000
To bonds payable a/c credit $6000,000
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Problem 10-5A Malcolm Company sold $6,000,000, 7%, 15-year bonds on January 1, 2017. The bonds were...
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P10-4A Kershaw Electric sold $6,000,000, 10%, 15-year bonds on Janua bonds were dated January 1, 2017, and paid interest on January 1. The bo at 98. ear bonds on January 1, 2017. The on January 1. The bonds were sold 488 Instructions (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (b) At December 31, 2017, $8,000 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of...
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Ivanhoe Company sold $6,100,000, 8%, 15-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on December 31. The bonds were sold at 97. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO At December...
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