eBook Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. T

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Ebook Entries For Issuing Bonds Thomson Co Produces And Distributes Semiconductors For Use By Computer Manufacturers T 1 (49.11 KiB) Viewed 3 times

eBook Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. Issued $240,000 of 10-year, 7% bonds on May 1 of the current year at face value, with int year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Nov. 1 Show Me How Journalize the entries to record the above selected transactions for the current year. Round your answers to whole number. May 1 Cash 240,000 ✓ Dec. 31 Franc Bonds Payable Interest Expense cator &inprogress=false ✓ 240,000 ✓ Check My Work Bonds Payable is always recorded at face value. Any difurence in issue price is reflected in a premium or disccund account. The straight and method of amortization provides equal amounts of amortization over the the of the bone