Great Lake Glassware Company issues 51.175,000 of its 8%, 10-year bonds at 90 on February...
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Accounting
Great Lake Glassware Company issues 51.175,000 of its 8%, 10-year bonds at 90 on February 28, 2024. The bonds pay interest on February 28 and August 31. asume that Great Lake uses the straight-line method for amortization. The journal entry to record the first interest payment on August 31, 2024 includes a _ con O A debit to interest Expense for 547,588 OB debit to Cash for $47,000 OG debit to interest Expense for $46,412 OD. debit to Discount on Bonds Payable for $588
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