Kingbind, Inc. issues $4.1 million, 10-year. 9% bonds at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Tities and Explanation Can Debit 369000 Credit 4100000

Kingbind, Inc. issues $4.1 million, 10-year. 9% bonds at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Tities and Explanation Can Debit 369000 Credit 4100000

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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