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Task 1.1: Benjamin Corporation sold $400 000 of 10-year 8% bonds on July 1, 2015. The bonds pay interest on December 31
Posted: Sun Jun 05, 2022 7:12 pm
by answerhappygod
- Task 1 1 Benjamin Corporation Sold 400 000 Of 10 Year 8 Bonds On July 1 2015 The Bonds Pay Interest On December 31 1 (162.35 KiB) Viewed 21 times
Task 1.1: Benjamin Corporation sold $400 000 of 10-year 8% bonds on July 1, 2015. The bonds pay interest on December 31 and June 30. Prepare all the necessary journal entries to record the issue of the bonds on July 1 and bond interest expense for 2015 on December 31 for each of the following scenarios: a) the bonds sold at 100; b) the bonds sold at 104; c) the bonds sold at 98. Task 1.2: Record the retirement of the Benjamin Corporation bonds on June 30, 2025 in the general journal.