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BE14.6 (L01) On January 1, 2022, JWS Corporation issued $600,000 of 7% bonds, due in 10 yea The bonds were issued for $559,224, and pay interest each July 1 and January 1. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) t December 31 adjusting entry. Assume an effective-interest rate of 8%.

BE14.6 (L01) On January 1, 2022, JWS Corporation issued $600,000 of 7% bonds, due in 10 yea The bonds were issued for $559,224, and pay interest each July 1 and January 1. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) t December 31 adjusting entry. Assume an effective-interest rate of 8%.

FINANCIAL ACCOUNTING
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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July paymen ajusun BE14.6 (LO 1) On January 1, 2022, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each July 1 and January 1. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. +3 "
Transcribed Image Text:July paymen ajusun BE14.6 (LO 1) On January 1, 2022, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each July 1 and January 1. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. +3 "
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