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ed interest rate. The bond will pay every four months for two years, ending 3. The market interest rate is 9%. at is the journal entry made by Dexter's Drive-In to record the issuance of t tember 1st, Year 1? Some of the amounts have been filled out to help you. I wers to the nearest one decimal place.

ed interest rate. The bond will pay every four months for two years, ending 3. The market interest rate is 9%. at is the journal entry made by Dexter's Drive-In to record the issuance of t tember 1st, Year 1? Some of the amounts have been filled out to help you. I wers to the nearest one decimal place.

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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On September 1st, Year 1, Dexter's Drive-In issues a bond with a $80,000 face value and a 12% stated interest rate. The bond will pay every four months for two years, ending on September 1st, Year 3. The market interest rate is 9%. What is the journal entry made by Dexter's Drive-In to record the issuance of the bond on September 1st, Year 1? Some of the amounts have been filled out to help you. Round your final answers to the nearest one decimal place. Dr. Cr. What is the journal entry made by Dexter's Drive-In to record the repayment of the principal on September 1st, Year 3? Dr. Cr.
Transcribed Image Text:On September 1st, Year 1, Dexter's Drive-In issues a bond with a $80,000 face value and a 12% stated interest rate. The bond will pay every four months for two years, ending on September 1st, Year 3. The market interest rate is 9%. What is the journal entry made by Dexter's Drive-In to record the issuance of the bond on September 1st, Year 1? Some of the amounts have been filled out to help you. Round your final answers to the nearest one decimal place. Dr. Cr. What is the journal entry made by Dexter's Drive-In to record the repayment of the principal on September 1st, Year 3? Dr. Cr.
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