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Home Q & A Board Other Fields Homework Help Business Accounting
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majestico majestico
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6 years ago
Simon Brothers pays $55,000 into a bond sinking fund each year to redeem the future maturity of its bonds. During the first year, the fund earned $3,500. At the time of bond redemption, the fund has a balance of $550,000. Of this, $525,000 was used to redeem the bonds. Journalize the a) initial deposit; b) the first year's interest; and c) the redemption of the bonds.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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AugustisAugustis
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majestico Author
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#2
6 years ago
This is excellent. Excellent answer
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#3
5 years ago
Happy to help Slight Smile
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