Solved: Baer company issued 400000 of 5-year 8 bonds at 97 on, Accounting Basics

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Baer company issued 400000 of 5-year 8 bonds at 97 on

Question - Baer Company issued $400,000 of 5-year, 8% bonds at 97 on January 1, 2012. The bonds pay interest twice a year.

Instructions

(a) Prepare the journal entry to record the issuance of the bonds.

(b) Prepare the journal entry to record the first interest payment

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Accounting Basics: Baer company issued 400000 of 5-year 8 bonds at 97 on

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Accounting Basics: Baer company issued 400000 of 5-year 8 bonds at 97 on

Reference No:- TGS02825876

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