The following amortization and interest schedule reflects the issuance of 10 year bonds by CMA Corporation on January 1, 2019, and the subsequent interest payment and charges. The Company’s year end is December 31, and the financial statements are prepared once yearly. (a) On the basis of schedule above, prepare the journal entry to record the issuance of bonds on January 1, 2019 (b) On the basis of the schedule above, prepare the journal entry or entries to reflect the bond transactions and accruals for 2019. (Interest is paid January 1) (c) On the basis of the schedule above, prepare the journal entry or entries to reflect the bond transactions and accruals for 2019. CMA Corporation does not use reversing entries
The following amortization and interest schedule reflects the issuance of 10 year bonds by CMA Corporation on January 1, 2019, and the subsequent interest payment and charges. The Company’s year end is December 31, and the financial statements are prepared once yearly.
(a) On the basis of schedule above, prepare the
(b) On the basis of the schedule above, prepare the journal entry or entries to reflect the bond transactions and accruals for 2019. (Interest is paid January 1)
(c) On the basis of the schedule above, prepare the journal entry or entries to reflect the bond transactions and accruals for 2019. CMA Corporation does not use reversing entries
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