On June 1, 2020, Bramble Corp. issued $8,320,000, 6% bonds for $8,154,640, which includes accrued interest. Interest is payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2030. The bonds are callable at 102. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 8 of 17
(a)
On June 1, 2020, Bramble Corp. issued $8,320,000, 6% bonds for $8,154,640, which includes accrued interest. Interest is
payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2030. The bonds are callable at 102.
(Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
Debit
Credit
Date Account Titles and Explanation
June 1
Attempts: 0 of 1 used
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Transcribed Image Text:<> Question 8 of 17 (a) On June 1, 2020, Bramble Corp. issued $8,320,000, 6% bonds for $8,154,640, which includes accrued interest. Interest is payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2030. The bonds are callable at 102. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation June 1 Attempts: 0 of 1 used Submit Answer Save for Later (b) MacBook Air !!
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Journal entry is a primary entry that records the financial transactions initially.

 

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