On July 1,2014, CAP1 Banking Corp. issued $4,000,000 of 10-year, 8% bonds at 97. CAP1...
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Accounting
On July CAP Banking Corp. issued $ of year, bonds at CAP uses the straightline amortization method to determine interest expense. Interest is paid each June and December The entry recorded by CAP on June upon maturity at the end of the bond's term will include:
credit to Discount on Bonds Payable of $
debit to Bonds Payable of $
credit to Cash of $
debit to Cash of $
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