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Whitmore company issued 534500 of 5-year 9 bonds at 95 on

Problem - Whitmore Company issued $534,500 of 5-year, 9% bonds at 95 on January 1, 2017. The bonds pay interest annually.

(1) Prepare the journal entry to record the issuance of the bonds.

(2) Compute the total cost of borrowing for these bonds.

(3) Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 101.

(4) Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 101.

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Accounting Basics: Whitmore company issued 534500 of 5-year 9 bonds at 95 on

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Accounting Basics: Whitmore company issued 534500 of 5-year 9 bonds at 95 on

Reference No:- TGS02364516

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