On september 1 2010 elmdale corporation issued 608800 8, Ask an Expert

Accounting

On September 1, 2010, Elmdale Corporation issued $608,800, 8%, 10-year bonds at face value. Interest is payable annually on September 1. Elmdale's year-end is December 31.

Prepare journal entries to record the following events. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2. Round answers to 0 decimal places, e.g. 25,100)
(a) The issuance of the bonds
(b) The accrual of interest on December 31, 2010.
(c) The payment of interest on September 1, 2011.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M957819

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