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Business, 30.11.2019 05:31 gigi1103

Abc company issues a bond with a face value of $100,000 on january 1 for $100,000. abc prepares financial statements only at december 31, so no adjusting entries are made during the year to accrue interest. if the bond carries a stated interest rate of 6% payable in cash on december 31 of each year, the journal entry to record the first bond interest payment includes a
a) credit to interest expense
b) debit to interest expense
c) debit to interest payable
d) credit to cash

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Abc company issues a bond with a face value of $100,000 on january 1 for $100,000. abc prepares fina...
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