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Harrison Harrison
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6 years ago
On January 1, 2013, JetNew, issued $1,000,000 face value, 5-year bonds with a stated rate of 5% at an effective rate of 4% which brought in $1,044,913. Interest is paid semi-annually on July 1 and December 31. JetNew uses the effective-interest method of amortization.

Prepare entries for the following transactions:
a.   Issuance of the bonds on January 1, 2013.
b.   Payment of interest and amortization of discount or premium on July 1, 2013.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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TheSinTheSin
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Harrison Author
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6 years ago
this is exactly what I needed
jmelchor77
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Yesterday
Thanks
my life
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2 hours ago
Good timing, thanks!
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