Prepare Garzon Company's journal entries to record the following transactions for the current year. January 1 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. June 30 Receives first semiannual payment of interest from PBS bonds. December 31 Receives a check from PBS in payment of principal ($52,800) and the second semiannual payment of interest. View transaction list Journal entry worksheet 1 2 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal
Prepare Garzon Company's journal entries to record the following transactions for the current year. January 1 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. June 30 Receives first semiannual payment of interest from PBS bonds. December 31 Receives a check from PBS in payment of principal ($52,800) and the second semiannual payment of interest. View transaction list Journal entry worksheet 1 2 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...
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