Business, 26.11.2019 21:31 dahloli4442
Harvard inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on january 1. the straight-line method is used to amortize bond premium.
prepare the journal entry to record the sale of these 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
cash
enter a debit amount
bonds payable
$4,000,000
premium on bonds payable
enter a credit amount
prepare the journal entry to record interest expense and bond premium amortization on december 31, 2022, assuming no previous accrual of interest. (credit account titles are automatically indented when amount is entered. do not indent manually.)
Answers: 1
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Harvard inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on january 1. the s...
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