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Avion, Inc_Issue of bonds payable




Question;On 1-1-2014 Avion, Inc. Sold Bonds with these particulars:Face amt. of Bonds 425,000Matures on 1-1-2024, in 10 yrs.Stated annual rate of int.7.75%Effective annual rate of interest10.00%Int. is paid every six months, 6-30, 12-31Req. 1, Assume the effective Interest Method in accounting for these Bonds, build a 10 year amortization tableReq. 2, Give General Journal entries to record the sale of the bonds, and the 1st 4 interest payments


Paper#37339 | Written in 18-Jul-2015

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