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Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2025, at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.) Account Titles and Explanation Date eTextbook and Media Debit Credit

Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2025, at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.) Account Titles and Explanation Date eTextbook and Media Debit Credit

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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Pharoah Company issued $380,000 of 6 %, 20-year bonds on January 1, 2025, at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.) Account Titles and Explanation Date eTextbook and Media List of Accounts Debit Attempts: 0 of 3 used Credit Submit Answer Acco Que Accom Que Accou Ques Accous Ques Accoun Quest Account Quest Accounti Viewin Accounts
Transcribed Image Text:Pharoah Company issued $380,000 of 6 %, 20-year bonds on January 1, 2025, at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.) Account Titles and Explanation Date eTextbook and Media List of Accounts Debit Attempts: 0 of 3 used Credit Submit Answer Acco Que Accom Que Accou Ques Accous Ques Accoun Quest Account Quest Accounti Viewin Accounts
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