Wefald Company sold bonds with a face value of $602,000 for $570,000. The bonds have...
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Wefald Company sold bonds with a face value of $602,000 for $570,000. The bonds have a coupon rate of 9 percent, mature in 9 years, and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Using a discount account, record the sale of the bonds on January 1 and the payment of interest on June 30 of this year. Wefald uses the straight-line amortization method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answer to whole dollars) View transaction list Journal entry worksheet Record the sale of the bonds on January 1 Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal
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