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Fast2F Fast2F
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6 years ago
On January 1, Preston Corporation issued 6%, 20-year bonds at 106. The face value is $400,000 and interest is paid semiannually. Interest is paid January 1 and July 1. Prepare the journal entries to record:

a. Issuance of the bonds.
b. First semiannual interest payment and amortization of the premium using the straight-line method.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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AugustisAugustis
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6 years ago
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Fast2F Author
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6 years ago
You make an excellent tutor!
julymontalvo
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Correct Slight Smile TY
loki1345
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Thanks
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