Take me to the text Wedge Inc. is planning to purchase $363,000 worth of 6-year bonds issued by George Company, a publicly tr company on January 1, 2020. The interest rate of the bonds is 4% annually; payments are made semi-annuall- June 30 and December 31 every year. Wedge Inc. has a December 31 year-end and plans to hold the bonds maturity. Required Prepare journal entries for the bonds' acquisition, the first interest payment and retirement of the bonds on January 1, 2026. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Date Account Title and Explanation Debit Credit

Take me to the text Wedge Inc. is planning to purchase $363,000 worth of 6-year bonds issued by George Company, a publicly tr company on January 1, 2020. The interest rate of the bonds is 4% annually; payments are made semi-annuall- June 30 and December 31 every year. Wedge Inc. has a December 31 year-end and plans to hold the bonds maturity. Required Prepare journal entries for the bonds' acquisition, the first interest payment and retirement of the bonds on January 1, 2026. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Date Account Title and Explanation Debit Credit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6PA: Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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