Logan corporation issue 800000 of 8 bonds on october 1 2006, Ask an Expert

Accounting

Logan corporation issue $800,000 of 8% bonds on October 1, 2006, due on October 1, 2011. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Logan Corporation closes its books annually on December 31.

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Accounting Basics, Accounting

Category:- Accounting Basics
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