FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
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Transcribed Image Text:LUS
Kimmel, Financial Accounting, 8e
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Brief Exercise 10-10
Pina Colada Corp. issued 2,100 8%, 9-year, $1,000 bonds dated January 1, 2017, at face value. Interest is paid each January 1.
10
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when amount is entered, Do not indent
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2017
(b) Prepare the adjusting journal entry on December 31, 2017, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not inden
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2017
dy
(c) Prepare the journal entry on January 1, 2018, to record interest paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2018
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Transcribed Image Text:8e
Help I System Announcements
Brief Exercise 10-10
Pina Colada Corp. issued 2,100 8%, 9-year, $1,000 bonds dated January 1, 2017, at face value. Interest is paid each January 1.
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically inden
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2017
(b) Prepare the adjusting journal entry on December 31, 2017, to record interest expense. (Credit account títles are automatically in
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2017
(c) Prepare the journal entry on January 1, 2018, to record interest paid. (Credit account titles are automatically indented when amot
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2018
Click if you would like to Show Work for this question:
Open Show Work
SHOW LIST OF ACCOUNTS
LINK TO TEXT
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