Solved: Mahon corporation issued 1000 6 5-year 3344 bonds dated, Accounting Basics

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Mahon corporation issued 1000 6 5-year 3344 bonds dated

Question - Mahon Corporation issued 1,000 6%, 5-year, $3,344 bonds dated January 1, 2010, at face value. Interest is paid each January 1.

(a) Prepare the journal entry to record the sale of these bonds on January 1, 2010.

(b) Prepare the adjusting journal entry on December 31, 2010, to record interest expense.

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Accounting Basics: Mahon corporation issued 1000 6 5-year 3344 bonds dated

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Accounting Basics: Mahon corporation issued 1000 6 5-year 3344 bonds dated

Reference No:- TGS02568659

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