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Accounting

On April 1, 2010, Backspace Corporation issued $2,000,000, 6%, 10-year bonds at 95. The bonds pay interest each October 1 and April 1 and the corporation uses the straight-line method to amortize premium or discount. Prepare entries for the issue of the bonds, for the first interest payment, and for the adjusting entry on December 31.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9974346

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