Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1400 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated July 1, 2022 were issued at 101. 3. On September 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the journal entry to record each bond transaction at the date if issuance
Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1400 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated July 1, 2022 were issued at 101. 3. On September 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the journal entry to record each bond transaction at the date if issuance
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 4EB: Chung Inc. issued $50,000 of 3-year bonds on January 1, 2018, with a stated rate of 4% and a market...
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Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1400 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated July 1, 2022 were issued at 101. 3. On September 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the journal entry to record each bond transaction at the date if issuance
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