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of 56ntsOn December 31 Spearmint, Incorporated, issued $450,000 of 9 percent, 3-year bonds for cash of $461, 795. After recording the related entry, Bonds Payable had a balance of $450,000 and Premium on Bonds Payable had a balance of $11,795. Spearmint uses the straight-line bond amortization method. The first semiannual interest pavment was made on June 30 of the next ear.Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns

of 56ntsOn December 31 Spearmint, Incorporated, issued $450,000 of 9 percent, 3-year bonds for cash of $461, 795. After recording the related entry, Bonds Payable had a balance of $450,000 and Premium on Bonds Payable had a balance of $11,795. Spearmint uses the straight-line bond amortization method. The first semiannual interest pavment was made on June 30 of the next ear.Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns

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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of 56ntsOn December 31 Spearmint, Incorporated, issued $450,000 of 9 percent, 3-year bonds for cash of $461, 795. After recording the related entry, Bonds Payable had a balance of $450,000 and Premium on Bonds Payable had a balance of $11,795. Spearmint uses the straight-line bond amortization method. The first semiannual interest pavment was made on June 30 of the next ear.Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns
Transcribed Image Text:of 56ntsOn December 31 Spearmint, Incorporated, issued $450,000 of 9 percent, 3-year bonds for cash of $461, 795. After recording the related entry, Bonds Payable had a balance of $450,000 and Premium on Bonds Payable had a balance of $11,795. Spearmint uses the straight-line bond amortization method. The first semiannual interest pavment was made on June 30 of the next ear.Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns
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