a. Journalize the issuance of the bonds on January 1, 2024. Date Accounts and Explanation Debit Credit 2024 Jan. 1 Cash Premium on Bonds Payable Bonds Payable Issued bonds at face value. b Journalizo the

a. Journalize the issuance of the bonds on January 1, 2024. Date Accounts and Explanation Debit Credit 2024 Jan. 1 Cash Premium on Bonds Payable Bonds Payable Issued bonds at face value. b Journalizo the

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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Question

On january 1 2024 professors crefit union pcu isdued 7 % 20 year bonds payable with face vaule of 800,000.

a. Journalize the issuance of the bonds on January 1, 2024.
Date
Accounts and Explanation
Debit
Credit
2024
Jan. 1
Cash
Premium on Bonds Payable
Bonds Payable
Issued bonds at face value.
b. Journalize the payment of interest and amortization on June 30, 2024.
Date
Accounts and Explanation
Debit
Credit
2024
P Type here to search
DELL
DII
F4
F1
F2
F3
FS
F6
F7
%23
3.
R
Go
LL
24
DI

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