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The problems we have worked on in class have consistently been bonds that have been purchased...

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Accounting

The problems we have worked on in class have consistently beenbonds that have been purchased at the date of their payments (i.e.January 1 for a bond that pays June 30 and December 31)

If the bond was bond intra period, (i.e. March 16th) but pays onJune 30th, what would you need to consider in preparing the journalentries for this particular fact patter. You can use numbers as anexample or simply explain the process

Answer & Explanation Solved by verified expert
3.7 Ratings (525 Votes)
assume the Valley bonds were dated October 31 issued on that same date and pay interest each April 30 and October 31 Valley must make an adjusting entry on December 31 to accrue interest earned for November and December but not paid until April 30 of the next year That    See Answer
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