FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On January 1, 2019, JWS Corporation issued $600,000 of 7% bonds,
due in 10 years. The bonds were issued for $559,224, and pay interest each July 1
and January 1. Prepare the company's
issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.
Assume an effective-interest rate of 8%.
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