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On August 1, Stuart Co. issued $1,300,000 of 20-year, 9% bonds,

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On August 1, Stuart Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000. Interest is payable semiannually on February 1 and August 1. Present the entries to record the following transactions for the current year;(a) Issuance of the bonds.;(b) Accrual of interest and amortization of bond discount for the year, on December 31, using the straight-line method.

 

Paper#27254 | Written in 18-Jul-2015

Price : $27
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