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    yobee28's Avatar
    yobee28 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 10, 2016, 01:03 AM
    Bonds
    Whitmore Company issued $534,500 of 5-year, 9% bonds at 95 on January 1, 2017. The bonds pay interest annually.

    Prepare the journal entry to record the issuance of the bonds.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Nov 10, 2016, 01:43 AM
    What do YOU think.
    While we're happy to help we will NOT do all the work for you.
    CityAccountant's Avatar
    CityAccountant Posts: 4, Reputation: 1
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    #3

    Nov 12, 2016, 12:06 AM
    Dr: cash received
    Dr: bond discount
    Cr. Bond obligation

    You will have to amortize the discount over the life of the bond.
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