Shamrock Co. is building a new hockey arena at a cost of $2,620,000. It received...
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Accounting
Shamrock Co is building a new hockey arena at a cost of $ It received a downpayment of $ from local businesses to support the project, and now needs to borrow $ to complete the project. It therefore decides to issue $ of year bonds. These bonds were issued on January and pay interest annually on each January The bonds yield
Assume that on July Shamrock Co redeems half of the bonds at a cost of $ plus accrued interest. Prepare the journal entry to record this redemption. Round present value factor to decimal places, eg and final answers to decimal places, e If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.
Date Account Titles and Explanation
July
July
To record interest
Answer & Explanation
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