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On January 31, 2021, Dogwood Logistics, Inc, issued ten-year, 12% bonds payable with a face value of $12,000,000. The bonds were issued at 94 and pay interest on January 31 and July 31 Dogwood Logistics amortizes bond discounts using the straight-line method Read the requirement a Record the issuance of the bond payable on January 31, 2021. (Record debits first, then credits Exclude explanations from any joumal entries) Date Jan 31 Cash Discount on Bonds Payable Bonds Payable Accou Requirement 1. Record (a) the issuance of the bonds on January 31, 2021, (b) the semiannual interest payment and amortization of the bond discount on July 31, 2021, and (c) the interest aconual and discount amortization on December 31, 2021. Print Done

On January 31, 2021, Dogwood Logistics, Inc, issued ten-year, 12% bonds payable with a face value of $12,000,000. The bonds were issued at 94 and pay interest on January 31 and July 31 Dogwood Logistics amortizes bond discounts using the straight-line method Read the requirement a Record the issuance of the bond payable on January 31, 2021. (Record debits first, then credits Exclude explanations from any joumal entries) Date Jan 31 Cash Discount on Bonds Payable Bonds Payable Accou Requirement 1. Record (a) the issuance of the bonds on January 31, 2021, (b) the semiannual interest payment and amortization of the bond discount on July 31, 2021, and (c) the interest aconual and discount amortization on December 31, 2021. Print Done

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 6PA: Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...
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On January 31, 2021, Dogwood Logistics, Inc., issued len-year, 12% bonds payable with a face value of $12,000,000. The bonds were issued at 94 and pay interest on January 31 and July 31 Dogwood Logistics amortizes bond discounts using the straight-line method Read the requirement a. Record the issuance of the bond payable on January 31, 2021. (Record debits first, then credits Exclude explanations from any joumal entries) Jan Date 31 Cash Discount on Bonds Payable Bonds Payable Accou Requirement 1. Record (a) the issuance of the bonds on January 31, 2021, (b) the semiannual interest payment and amortization of the bond discount on July 31, 2021, and (c) the interest accrual and discount amortization on December 31, 2021. Print Done
Transcribed Image Text:On January 31, 2021, Dogwood Logistics, Inc., issued len-year, 12% bonds payable with a face value of $12,000,000. The bonds were issued at 94 and pay interest on January 31 and July 31 Dogwood Logistics amortizes bond discounts using the straight-line method Read the requirement a. Record the issuance of the bond payable on January 31, 2021. (Record debits first, then credits Exclude explanations from any joumal entries) Jan Date 31 Cash Discount on Bonds Payable Bonds Payable Accou Requirement 1. Record (a) the issuance of the bonds on January 31, 2021, (b) the semiannual interest payment and amortization of the bond discount on July 31, 2021, and (c) the interest accrual and discount amortization on December 31, 2021. Print Done
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