Issuance of Bonds on Interest Dates Zamboanga Company On January 1, 2018, Zamboanga Co. issued 10%, three-year P1,000,000. Interests on these bonds are due annually every year-end. Required: Provide the necessary journal entry/entries on the date of issuance under the following independent situation: a. Bonds were issued at face amount
Issuance of Bonds on Interest Dates Zamboanga Company On January 1, 2018, Zamboanga Co. issued 10%, three-year P1,000,000. Interests on these bonds are due annually every year-end. Required: Provide the necessary journal entry/entries on the date of issuance under the following independent situation: a. Bonds were issued at face amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Issuance of Bonds on Interest Dates
Zamboanga Company
On January 1, 2018, Zamboanga Co. issued 10%, three-year P1,000,000. Interests on these bonds are due annually every year-end.
Required: Provide the necessary
a. Bonds were issued at face amount
b. Bonds were issued to yield 8%
c. Bonds were issued to yield 12%
d. Bonds were issued to yield 12% but were quoted at 98
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