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Bond Payments and Journal and Journal Entries
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What is the adjusting entry at Dec 31, 2007 for this problem? Problem: Logan Corporation issued 800000 of 8% bonds on October 1, 200, due on October 1, 2011. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest.
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On Jan 1, 2000, the Olivares Corporation purchased a packaging and labeling machine. Olivares paid 25,000 down and signed a noninterest-bearing note requiring six annual installments of 10,000 to be paid on each Dec 31 beginning Dec 31, 2000. The fair value of the machine is not determinable. An...
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I have two more questions I would like you please check for me if you could. Question 1: Received a telephone bill for August, which is to be paid next month, $160. DB Accounts Payable & Credit Telephone Expense Question 2: Completed the series of advertisements for Marsh Tire Company... View more questions Search
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