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Watson Bottle Company: Bond amortization table and the adjusting journal entry.

On June 1, 2008, Watson Bottle Company sold $400,000 in long-term bonds for $351,040. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on May 31 of each year. The bonds are to be accounted for under the effective-interest method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9416688

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