Prepare the journal entries to record interest income and interest received and recognition of fair value at December 31, 2020, 2021, the account titles and enter o for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit (To record interest collected) (To record fair value adjustment) (To record interest collected) (To record fair value adjustment) (To record interest collected)
Prepare the journal entries to record interest income and interest received and recognition of fair value at December 31, 2020, 2021, the account titles and enter o for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit (To record interest collected) (To record fair value adjustment) (To record interest collected) (To record fair value adjustment) (To record interest collected)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 68E: Exercise Bonds with Annual Interest Payments Kiwi Corporation issued at par $350,000, 9% bonds on...
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