Business, 24.03.2021 17:00 trinitieu66

On January 1, 2019, Tonika Company issued a four-year, $10,800, 7% bond. The interest is payable annually each December 31. The issue price was $10,068 based on an 8% effective interest rate. Tonika uses the effective-interest amortization method. Rounding calculations to the nearest whole dollar, what is journal entries correctly records the 2019 interest expense?

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On January 1, 2019, Tonika Company issued a four-year, $10,800, 7% bond. The interest is payable ann...

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