Answered: * 25. The Company issued $400,000 of 20…

* 25. The Company issued $400,000 of 20 year 6.5% bonds at 97.5. 26. Assume the same facts in # 25 above except that the bonds were issued for 102.7.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

CS 4

Accounting

Please write the journal entries for both!

With the work please!

*25
25. The Company issued $400,000 of 20 year 6.5% bonds at 97.5.
26. Assume the same facts in # 25 above except that the bonds were issued for 102.7.

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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