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Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December 31. Bramble uses the straight-line method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December 31. Bramble uses the straight-line method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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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Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December 31. Bramble uses the straight-line method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31, 2021 e Textbook and Media List of Accounts Save for Later Debit Attempts: 0 of 3 used Credit Submit Answer
Transcribed Image Text:Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December 31. Bramble uses the straight-line method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31, 2021 e Textbook and Media List of Accounts Save for Later Debit Attempts: 0 of 3 used Credit Submit Answer
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