On december 31 2011 drew company issued 350000 five year, Ask an Expert

Finance

On December 31, 2011 Drew Company issued $350,000 five year bonds for $320,000. The stated rate of interest was 7% and interest is paid annually on December 31.

A) Prepare the necessary journal entry on December 31, 2013, assuming the straight line method is followed.

B) Prepare the amortization table for Drew Company's Bonds (assuming straight line)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91419702

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