Solved: Devers corporation issued 400000 of 6 bonds on may 1 2011, Accounting Basics

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Devers corporation issued 400000 of 6 bonds on may 1 2011

1. Devers Corporation issued $400,000 of 6% bonds on May 1, 2011. The bonds were dated January 1, 2011, and mature January 1, 2013, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Devers's journal entries for

(a) The May 1 issuance,

(b) The July 1 interest payment, and

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Accounting Basics: Devers corporation issued 400000 of 6 bonds on may 1 2011

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Accounting Basics: Devers corporation issued 400000 of 6 bonds on may 1 2011

Reference No:- TGS01484044

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