5) Smith Company needs additional financing and is going to issue long term bonds to raise the necessary funds. On January 1, 2022 10 year $100,000 bonds were issued at 100 (face). They will pay 4% interest, semi annually. Please prepare the necessary journal entries to record the entries for Calendar year 2022. 5 -a) Same data as above except the bonds were issued at 101 Prepare the necessary entries for calendar year 2022 5-b) Same data except the bonds were issued at 98. Prepare the necessary entries for calendar year 2022

5) Smith Company needs additional financing and is going to issue long term bonds to raise the necessary funds. On January 1, 2022 10 year $100,000 bonds were issued at 100 (face). They will pay 4% interest, semi annually. Please prepare the necessary journal entries to record the entries for Calendar year 2022. 5 -a) Same data as above except the bonds were issued at 101 Prepare the necessary entries for calendar year 2022 5-b) Same data except the bonds were issued at 98. Prepare the necessary entries for calendar year 2022

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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