Answered: Blue Spruce Corp. issues $310,000 of…

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Blue Spruce Corp. issues $310,000 of bonds for $325,500. Prepare the journal entry to record the issuance of the bonds.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 8EB: Allante Corporate issued 50 bonds with a face value of $1,000 and a stated rate of 4% and received...

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Question

Blue Spruce Corp. issues $310,000 of bonds for $325,500.

Prepare the journal entry to record the issuance of the bonds.

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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