Arroyo company issued 600000 10-year 6 bonds at 103 prepare, Accounting Basics

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Arroyo company issued 600000 10-year 6 bonds at 103 prepare

Question: Arroyo Company issued $600,000, 10-year, 6% bonds at 103.

Instructions: (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017.

(b) Suppose the remaining Premium on Bonds Payable was $10,800 on December 31, 2020. Show the balance sheet presentation on this date.

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Accounting Basics: Arroyo company issued 600000 10-year 6 bonds at 103 prepare

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Accounting Basics: Arroyo company issued 600000 10-year 6 bonds at 103 prepare

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