Business, 19.02.2021 17:00 ryantrajean7
Yale Corporation issued to Zap Corporation $70,000, 10% (cash interest payable semiannually on June 30 and December 31) 10-year bonds dated and sold on January 1, 2020. Assume that the company uses the effective interest method for amortization. If the bonds were sold at 97, yielding 10.5%. What is true for journal entries to be made at June 30, 2020, for interest payment if Effective interest method is used?
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Yale Corporation issued to Zap Corporation $70,000, 10% (cash interest payable semiannually on June...
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