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On January 1, 2025, Jude Services issued $200,000 of 8% bonds that mature in ten years. The bonds were issued at 108. be:

On January 1, 2025, Jude Services issued $200,000 of 8% bonds that mature in ten years. The bonds were issued at 108. be:

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 January 1, 2025, Jude Services issued $200,000 of 8% bonds that mature in ten years. The bonds were issued at 108. The journal entry to issue bonds would be: Cash Premium on Bonds Payable Bonds Payable Bonds Payable Premium on Bonds Payable Cash Cash Bonds Payable Cash Bonds Payable 216,000 216,000 216,000 200,000 16,000 200,000 16,000 200,000 216,000 200,000
Transcribed Image Text:On January 1, 2025, Jude Services issued $200,000 of 8% bonds that mature in ten years. The bonds were issued at 108. The journal entry to issue bonds would be: Cash Premium on Bonds Payable Bonds Payable Bonds Payable Premium on Bonds Payable Cash Cash Bonds Payable Cash Bonds Payable 216,000 216,000 216,000 200,000 16,000 200,000 16,000 200,000 216,000 200,000
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