On March, 1, 200B, ABC Corp. sold 800,000 8% bonds dated Jan. I, 2008 for $824,000. This bond pays interest semi-annually on July 1 and Dec. 31st 1. Pass Journal entry to set up bond sale. 2. Pass Journal entry to record interest expense on July 1, 2008 3. Pass Journal entry to record interest expense on Dec 31, 2008. On April 1, 2008, TDK Corp. sold 600,000 5% bonds dated Jan 1, 2008 for $524,000. 4. Pass Journal entry to set up bond sale. 5. Pass Journal entry to record interest expense on July 1, 2008

On March, 1, 200B, ABC Corp. sold 800,000 8% bonds dated Jan. I, 2008 for $824,000. This bond pays interest semi-annually on July 1 and Dec. 31st 1. Pass Journal entry to set up bond sale. 2. Pass Journal entry to record interest expense on July 1, 2008 3. Pass Journal entry to record interest expense on Dec 31, 2008. On April 1, 2008, TDK Corp. sold 600,000 5% bonds dated Jan 1, 2008 for $524,000. 4. Pass Journal entry to set up bond sale. 5. Pass Journal entry to record interest expense on July 1, 2008

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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