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Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 each year. Deleau's year end is December 31. 4 Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Oct. 1

Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 each year. Deleau's year end is December 31. 4 Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Oct. 1

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 8RE
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Prepare the journal entry required at December 31, 2020, and the entries for the interest payments on March 31 and September 30, 2021. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the occount tities and enter O for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Mar 31, 2021 Sept. 30, 2021
Transcribed Image Text:Prepare the journal entry required at December 31, 2020, and the entries for the interest payments on March 31 and September 30, 2021. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the occount tities and enter O for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Mar 31, 2021 Sept. 30, 2021
Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 each year. Deleau's year end is December 31. 4 Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Oct. 1
Transcribed Image Text:Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 each year. Deleau's year end is December 31. 4 Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Oct. 1
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