Business, 28.06.2021 19:50 saraagracee

Fong Corporation sold $2,000,000, 7%, 5-year bonds on January 1, 2017. The bonds were dated January 1, 2017 and pay interest on January 1. The company uses straight-line amortization on bond premiums or discounts. Required:
Prepare all necessary journal entries to record the issuance of the bonds and bond interest expense for 2017.

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Fong Corporation sold $2,000,000, 7%, 5-year bonds on January 1, 2017. The bonds were dated January...

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