On June​ 30, Danver Limited issues 7%​, ​20-year bonds payable with a face value of $120,000. The bonds are issued at 90 and pay interest on June 30 and December 31. ​(Assume bonds payable are amortized using the​ straight-line amortization​ method.)   Requirements 1. Journalize the issuance of the bonds on June 30. 2. Journalize the semiannual interest payment and amortization of the bond discount on December 31

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A:

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.