Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on august 15, 20y5, pear inc. sells $10,000 of abc

On August 15, 20Y5, Pear Inc. sells $10,000 of ABC Co. 9% bonds at 99%...

50.1K

Verified Solution

Question

Accounting

On August 15, 20Y5, Pear Inc. sells $10,000 of ABC Co. 9% bonds at 99% of their face amount, plus any accrued interest. The bonds pay interest semiannually, on June 30 and December 31. Prepare the journal entry to record the sale, rounding any interest accrued to the nearest cent. Assume a 360-day year, with 30 days in each month.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The period after the Civil War was marked by circulation decreased and the value of...

Biology
Q

skeletal muscle deprived of adequate ATP supplies will sequester all free calcium ions into the...

Biology
Q

Centromere Centriole O Centrosome Question 6 1 point Listen The functional group at the 3...

Biology
Q

16 The measurement of voltmeter in the following circuit is 6 V 40 Q 60...

Physics
Q

A regression analysis between sales in 1000 and price in dollars resulted in the following...

Basic Math
Q

1 Problem 4 Problem 5 5,000 4.000...

Accounting
Q

Crane Company reported the following information for November and December 2022. Cost of goods purchased...

Accounting
Q

Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC....

Accounting
Q

The following data have been extracted from the records of Puzzle Incorporated: \table[[,February,August],[Production level,...

Accounting
Q

In foreign investment analysis, what are the two methods used to incorporate factors affecting cash...

Finance
Q

ABC Company has issued debt of $77,923 at an interest rate of 6.6%. What is...

Finance
Q

Assume a company has three products-A, B, and C-that emerge from a joint process. The...

Accounting