Unformatted text preview: was not accrued on June 30. (c) The accrual of interest and the discount amortization on December 31, 2008. Solution (a) Jan. 1 Cash 600,000 Notes Payable 600,000 (b) July 1 Bond Interest Expense 56,261 Discount on Bonds Payable 2,261 Bond Interest Payable 54,000 (c) Dec. 31 Bond Interest Expense 56,487 Discount on Bonds Payable 2,487 Bond Interest Payable 54,000...
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This note was uploaded on 03/28/2011 for the course ACCT 349 taught by Professor Goyal during the Spring '09 term at University of Phoenix.
- Spring '09
- Financial Accounting