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Trog Industries pays and records the semiannual interest on its $860,000, 10-year, 6% bonds outstanding on July 1, 20X1. On the same date, amortization of the premium of $8,600 received on $172,000 of those bonds is recorded. Prepare the journal entries recorded by Trog Industries.

Trog Industries pays and records the semiannual interest on its $860,000, 10-year, 6% bonds outstanding on July 1, 20X1. On the same date, amortization of the premium of $8,600 received on $172,000 of those bonds is recorded. Prepare the journal entries recorded by Trog Industries.

FINANCIAL ACCOUNTING
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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Subject  :- Account 

Trog Industries pays and records the semiannual interest on its $860,000, 10-year, 6% bonds outstanding on July 1, 20X1. On the same date, amortization of the premium of $8,600 received on $172,000 of those bonds is recorded. Prepare the journal entries recorded by Trog Industries. No 1 Date July 1, 20X1 July 1, 20X1 > Answer is not complete. General Journal Bond interest expense Premium on bonds payable Cash Cash Bonds payable Premium on bonds payable X x X Debit Credit
Transcribed Image Text:Trog Industries pays and records the semiannual interest on its $860,000, 10-year, 6% bonds outstanding on July 1, 20X1. On the same date, amortization of the premium of $8,600 received on $172,000 of those bonds is recorded. Prepare the journal entries recorded by Trog Industries. No 1 Date July 1, 20X1 July 1, 20X1 > Answer is not complete. General Journal Bond interest expense Premium on bonds payable Cash Cash Bonds payable Premium on bonds payable X x X Debit Credit
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