On October 1,2024, Kristal Corp. issued $700,000,5%,10 year-bonds at face value. The bonds were dated...
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Accounting
On October Kristal Corp. issued $ yearbonds at face value. The bonds were dated October and pay interest annually on October Financial statements are prepared annually on December
a Prepare the journal entry to record the issuance of the bonds.
b Prepare the adjusting entry to record the accrual of interest on December
c Prepare the journal entry to record the payment of interest on October
d Prepare the adjusting entry to record the accrual of interest on December
e Assume that on January Kristal pays the accrued bond interest and calls the bonds. The call price is Record the payment of interest and redemption of the bonds.
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