Original issued a $30,000, 5%, 10-year debenture at a price of 90 on 1 January 2021. Journalise the issue of the debenture on 1 January 2021. Journalise the payment of half-yearly interest and amortisation of the debenture discount or premium on 1 July 2021, using the straight-line method to amortise the debenture discount or premium. General journal 1. 2. DATE ACCOUNT TITLES AND EXPLANATIONS POST. REF. DEBIT CREDIT

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Original issued a $30,000, 5%, 10-year debenture at a price of 90 on 1 January 2021.
Journalise the issue of the debenture on 1 January 2021.
Journalise the payment of half-yearly interest and amortisation of the debenture discount or premium on 1 July 2021,
using the straight-line method to amortise the debenture discount or premium.
General
journal
1.
2.
DATE
ACCOUNT
TITLES AND
EXPLANATIONS
POST.
REF.
DEBIT
CREDIT
Transcribed Image Text:Original issued a $30,000, 5%, 10-year debenture at a price of 90 on 1 January 2021. Journalise the issue of the debenture on 1 January 2021. Journalise the payment of half-yearly interest and amortisation of the debenture discount or premium on 1 July 2021, using the straight-line method to amortise the debenture discount or premium. General journal 1. 2. DATE ACCOUNT TITLES AND EXPLANATIONS POST. REF. DEBIT CREDIT
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