Andrews corporation issued 300000 of 12 3-year bonds on, Ask an Expert

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Andrews corporation issued 300,000 of 12%, 3-year bonds on january 1. Interest is payable semiannually on June 30 and December 312.. Andrews uses the straight-line methid of amortization.

a. Prepare the journal entry to record the issuance of the bonds if they are issued at 101. For a compound transcation, if an amount box does not require an entry, leave it blank.

b. Prepaer the journal entry to record the first payment of interest on june 30. For a compund transaction, if an amount box does not require an entry, leave it blank.

c. Will Andrews make the same interest payment entry on december 31?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91968228

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