The Colson Company issued $300,000 of 10% bonds in January 1, 2014. The bonds are...
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Accounting
The Colson Company issued $300,000 of 10% bonds in January 1, 2014. The bonds are due in January 1, 2020, with interest payable each July 1 and January 1. The bonds are issue at face value. Prepare Colon's journal entries for
(a) The January issuance
(b) the July 1 interest payment, and
(c) the December 31' adjusting entry.
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