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Mahoney Sales_Issue of bonds at discount

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solution


Question

Question;On January 2, 2014, Mahoney Sales issued $10,000 in bonds for;$9,400. They were 5-year bonds with a stated rate of 4%, and pay semi-annual;interest payments. Mohoney Sales uses straight line method to amortize bond;discount. Please provide the journal entry for the bond issuance and first;interest payment including the amortization of the discount.

 

Paper#44641 | Written in 18-Jul-2015

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